Mar 27, 2020
With the arrival of the Covid-19 pandemic, the last several
weeks have taken an unfortunate turn, and this has affected the
commercial real estate world as well. For commercial landlords and
investors, there are some very real issue you are facing as more
and more tenants start facing financial hardships due to their
businesses being closed.
As a commercial landlord, you need to be prepared to respond
when tenants start coming to you with needing financial relief
and/or rent reduction. There are programs that can help your
tenants (we discuss a few programs on this podcast). You also need
to be prepared for the possibly of tenants invoking the "Force
Majeure" clause (Act of God clause). Just remember that it will
benefit you in the long run if you treat your tenants as human and
not just as a lease or cash flow stream.
Key Discussion Points
[00:58] Opening remarks by Eric Odum
[01:56] During this COVID-19 pandemic, landlords should treat
people as human and not just as a lease or cash flow stream
[05:12] Programs and ways for tenants to get financial
help if they are struggling due to the COVID-19 pandemic
[06:21] As a landlord, how do you respond when a tenant
comes to you needing financial relief or rent reduction
[10:00] Be prepared for tenants to invoke the “Force
Majeure” clause (Act of God clause)
[11:18] Eviction and Abandonment
[17:44] Eric's Closing Remarks