All Forum Posts by: David Daynes

One more thing: I went over to this building yesterday and had a look at business they claim has been shut down for 3 weeks in their 1st email. My main business is one that the government has shut down except for emergencies and I have to donate some of my PPE to the hospitals (I am also medical). So while my business is really shut down, these guys have not been as the security cameras show. They have locations all over the US but this particular one they’re renting from me has been going full tilt.

Just some things to consider when we let people off the hook just because the give us ‘Notice’ of 90 day deferment. Check the facts and if they are just looking to preserve capital and act as they are the ones the pandemic is affecting, they need to be expected to pay the rent. They can provide for their own bailout, not the property owners.

Thank you everyone for your posts, it’s always good to have various perspectives. The problem with this whole situation is the optics from the beginning. Imagine if you or I were to call up our lenders or anyone we owe money to and give them NOTICE that we aren’t going to pay for 90 days. Imagine what kind of response we would get and how we would be treated? Whoever in the commercial business industry who came up with this idea and all the stupid CEOs that followed along are gravely mistaken. The arrogance of their email to me just set me off from the beginning. Do they really think that the pandemic is only happening to them and they can just tell people what they’re going to do and who is going to provide them their bail out? The emails I’m getting now are more of the ones that I should’ve gotten from the beginning. Giving me figures of why they’ve been down and I think honestly had they come to me from the beginning in a way conducive of working together instead of ordering me around, I would be more open to work with them.

There are some parts to their contract that I don’t like from the previous owner that I bought the building from. I tried to negotiate on those and make it a win-win for both of us, and thus giving them the 90 days of capital they desire. They are not interested in that and I’m telling them no based on their arrogance and command that I am going to provide their bail out.

Once again, this whole idea from national business to treat their landlords with arrogance and command us around was a big mistake.  Show a little humility and humanity and they will find there are compassionate people willing to help them

Update: I have finally heard back from them and it appears they are following many businesses and are asking for a 90 day deferment of their rent and tacking on three more months at the end of the lease. I have already had to tell another one of my lessors no as I called the bank and there are no bail outs for commercial loans in my state. So in other words, I will have to provide this bail out myself. This is the problem with the whole system is the government would have to come in and bailout the banks for us to offer a bailout to the tenant.  Our other tenant that we told NO came up with the rent amount but I’m sure we will go through this again next month. It really is a big problem but I’m seeing things online of creative ways of landlords doing this. Its just hard fir the small guy to be the one to provide the bailout When we were all in the same boat and my main business is being affected the same way as them. Any ideas out there?

I have a medical commercial tenant who is not paying their rent. They also aren’t answering us which makes me nervous. In their lease, a late charge starts at day 10. I have been reading up on the road to eviction but it’s mostly deals with Residential. At what point do I get an attorney involved and what are the steps to get to changing the locks? Any idea on legal cost? During a pandemic I am certainly willing to negotiate with compassion but when they ignore you, it becomes tough.