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LET'S ALL DO WHAT WE CAN TO HELP OTHERS IN THIS TIME OF NEED.
IN RESPONSE TO COVID-19
Landlords and tenants do have options available to find equitable solutions.
1) Use security deposits or last months rent during closures or job loss.
2) Deferring base rent and amortizing it over the remaining term.
3) Temporarily charging only CAM and other LL costs/expenses.
4) Renegotiating deals blending rates and extending terms.
5) Partial or full abatement during closures in return for a personal guarantee.
Landlords check with your lender or loan agreement before making any lease modifications.
7 Oak Place, Suite 240
Montclair, NJ 07042
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