4 ms·

Honestly curious, but I'm sure it will sound accusatory. They (your tenants) permanently lose the business for the months the economy is shut down. But you as

Honestly curious, but I'm sure it will sound accusatory. They (your tenants) permanently lose the business for the months the economy is shut down. But you as a land lord expect to be made whole just over a longer timespan. How is that in it together? In it together feels like you'd lose some portion of the rent you are charging or all of it and expect some amount of relief from the government. I mostly ask because I'm not fully sure what should be fair for all parties involved. Restaurants, bookstores and offices shouldn't fail because they can survive a once in a hundred year plague. Neither should property owners who are leasing said property. But I don't understand the rules in this situation. You may be preaching about how you're in it together, but if your tenant goes under you may be screwed on your loan payments.

bawolff 7y ago
There is no magic solution here, all parties are going to get somewhat screwed by this. Its not like defering the rent is neccesarily in the best interest (from a purely ecconomic perspective of the landlord). If you defer rent for many months only for tenant to go under when this ends (and lets be real, many tenants are going to go under when this is all said and done), the landlord would be better off being heartless and not defering rent
- viklove 7y ago
  Sounds like they're not in it together
- deleted 7y ago
  [deleted]
perlwle 7y ago
I can share how people in China deal with this. During the high of the coronavirus outbreak, for individual or company, one could call the banks to postpone mortgages, loans or credit card payment for 1 to 3 months. Business may get longer extension if the situation worsen. That was possible in February, less so now as life turns normal gradually since March. Work resumed, shopping mall reopened etc. schools still closed though. As for rent, Business tenants negotiate with landlord for rent forgiveness, something like half month or one month rent.

bawolff 7y ago

There is no magic solution here, all parties are going to get somewhat screwed by this. Its not like defering the rent is neccesarily in the best interest (from a purely ecconomic perspective of the landlord). If you defer rent for many months only for tenant to go under when this ends (and lets be real, many tenants are going to go under when this is all said and done), the landlord would be better off being heartless and not defering rent

viklove 7y ago
Sounds like they're not in it together
deleted 7y ago
[deleted]

perlwle 7y ago

I can share how people in China deal with this. During the high of the coronavirus outbreak, for individual or company, one could call the banks to postpone mortgages, loans or credit card payment for 1 to 3 months. Business may get longer extension if the situation worsen. That was possible in February, less so now as life turns normal gradually since March. Work resumed, shopping mall reopened etc. schools still closed though. As for rent, Business tenants negotiate with landlord for rent forgiveness, something like half month or one month rent.