COVID-19 Recovery – Landlord Tenant Guidance
The COVID-19 pandemic continues to wreak havoc and uncertainty on every aspect of the residential and commercial real estate sector. Federal, state and local government orders have caused commercial tenants to go out of business, temporarily close, curtail operations, lay off employees and suffer sharply declining revenues affecting their ability to pay rent, while landlords are obligated to continue paying maintenance costs, real estate taxes and debt service on their properties. Guidance for commercial landlords and tenants navigating COVID-19 lease challenges is set forth here.
The challenges impacting residential leases are no less significant as laws have been enacted in the State of New Jersey and at the federal level temporarily sanctioning the non-payment of rent and constraining landlords from seeking legal recourse. Guidance for residential landlords and tenants navigating COVID-19 lease challenges is set forth here.
Strategizing how to combat lease challenges generated by the COVID-19 pandemic requires a delicate balance of legal rights and obligations, practicalities and business sense. Winne Banta has assisted its clients in achieving such a balance for almost a century. If you have any questions about managing the landlord and tenant relationship or the impact of COVID-19 on you or your business, please contact Winne Banta’s COVID-19 Recovery Team at 201.562.1002.