Commercial Real Estate Investing
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 5 years ago on . Most recent reply
Commercial Landlords with a Bar as a tenant during COVID
Those of you who have a Bar as a tenant, how are you handling the current situation? This is assuming they are not paying rent. I have a Bar/brewery tenant and they are claiming to be in a dire situation, awaiting government/SBA funds, and unable to pay rent as of April 1st. I'm just curious what others are doing in this situation.
Most Popular Reply
#2 Land & New Construction Contributor
- Developer
- Charlottesville, VA
- 4,399
- Votes |
- 4,756
- Posts
#2 Land & New Construction Contributor
- Developer
- Charlottesville, VA
Originally posted by @Kirsten Ostby:
Those of you who have a Bar as a tenant, how are you handling the current situation? This is assuming they are not paying rent. I have a Bar/brewery tenant and they are claiming to be in a dire situation, awaiting government/SBA funds, and unable to pay rent as of April 1st. I'm just curious what others are doing in this situation.
First step is to review your lease and loan docs and discuss with your attorney to make sure you do every thing the correct way as to not violate the loan covenants. That being said you want to work with them as much as you can assuming they are able to reopen once this is over. If you are able to carry the rent you could let them make up the difference over a year after they reopen or any variation on that theme.