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The coronavirus is already taking a heavy toll on many real estate sectors. Millions of jobs and the future of thousands of businesses hinge on the outcome of negotiations between landlords and tenants in the wake of the March quarter day.
For retail, leisure and serviced office tenants, the last few weeks of the coronavirus lockdown are just the beginning of what could be many months of problems paying the rent.
And it’s no walk in the park for landlords and lenders, either. Cashflows are imperilled, creating a risk of mortgage defaults.
Speaking last week at a Bisnow and Lorenz Consultancy webinar, Surviving & Striving: Rent Payment Negotiations In A Time Of Distress, experts offered a four-point plan for how tenants and landlords could find common ground and make sure everyone comes out of the other side of the crisis as unscathed as possible.
Lorenz Consultancy Head of Lease Advisory & Professional Richard Russell and Buchler Phillips Chairman David Buchler came together to examine the options.1. Share The PainLandlord and tenant (and landlord’s lenders) are all in this together, which means everybody should expect to…
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