At the risk of “over-posting”, I wanted to quickly respond to many of the recent inquiries we have been receiving from business owners who are concerned about their lease obligations. While landlords will be empathetic to the fact that this situation is dramatically affecting their tenants’ revenues, bear in mind that each building owner is also being affected financially and may be limited in what they can do. Before requesting relief from any building owner every company should review their lease with their advisors including lawyer and real estate professionals. Equally or perhaps more importantly, determine what relief you really need and build a fact- based case to then present to your landlord. It may be impractical to ask your landlord to accomodate a worst case scenario that may never materialize. While the short-term effects are evident, the long-term effects are unknown so it is important to try and be as reasonable as possible because you may need greater relief down the road. That being said, there are steps that business owners can take to help ease their real estate burden now while also laying the groundwork to insure business continuity in the future. Our brokerage division has prepared a PDF narrative with more detail that can be found both on our website and https://www.linkedin.com/in/donhause/
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