I thought this was a bit high seeing that rates were lowered by the Federal reserve.

As the world economy tanks, do we stay the course as long as we have reserves?

You gave him use of the space to store his stuff.

I'm hype about that LOL  I'm going to get an increase on it as well to have some additional reserves for my next project. 

According to Yardi Matrix, revenue was down year-over-year in nearly every major market they track due to increased competition and new store openings.

In conditions such as those we face today, fulfilling redemption requests would require us to either substantially deplete vital cash reserves, or, even worse, potentially sell assets into a down market, likely at a price far below actual value.

If all else fails, most of our Landlords (those who can , anyways) are willing to consider rent abatement but will be requiring full proof of loss including P&L's year over year, current YTD and MTD cash flow, bank statements showing reserves, etc.

Mortgage Rates Likely to Fall Further: The Federal Reserve issued an emergency 50 basis point cut to their target interest rates last week, and more rate cuts are expected in the coming meetings.

Really the only discrepancy comes when a reservation takes place over two months i.e. 30th-2nd so not sure if it's a big deal or not!

This turned into a $3,000 charge that would take me about 2.5 months of cash flow to recover from (this is also why it’s important to have a healthy cash reserve to operate from and deal with unexpected issues!