IF YOU’RE A SMALL BUSINESS OWNER WHO MAY NOT BE ABLE TO AFFORD RENT THIS MONTH OR NEXT, WHAT CAN YOU DO?
Since March 25th, most restaurants, brick-and-mortar stores, and a lot of businesses have been doing a fraction of their productivity and, in many cases, no business at all. For nearly half of small businesses, these lost weeks could be enough to push you into the red. Enough to make it impossible to pay rent!
As some businesses start to open, a reset is taking place. What does this mean for your business? Changes in sales strategy, customer participation, inventory management & control, costs related to back-to-work protocols, marketing considerations… and, your rent. It still has to be paid!
The commercial property landscape has changed and protecting your business location is vital in the months to come.
WHAT I CAN DO FOR YOU
- Answer questions you have concerning your current lease terms and review the discussions you may have already had with your Landlord;
- Look at mitigating risk and identify potential opportunity;
- Possibly renegotiate a longer term lease in exchange for some short term rental assistance;
- Investigate capitalizing on the changing landscape to lock in more favorable lease terms;
- Potentially negotiate an amortization of your lease payments over the remainder of your lease term.
GET A FREE CONSULTATION
As an experienced commercial real estate broker I understand the terms and conditions of leases for industrial, office and retail sectors. I approach each assignment with determination to provide the best results for my clients. I work with both landlords, property managers and lessees all the time, ensuring a successful and beneficial relationship for all parties.