Tenants ask for rent relief as pandemic shuts down business

Even when business stops, the rent goes on. But with the unprecedented restrictions caused by the coronavirus, building tenants and their landlords are scrambling to deal with the new reality. Retail and commercial building tenants who have been forced to shut down are seeking relief from rent payments that still come due even when their doors are shut. “It’s not just restaurants — there are a lot of businesses that aren’t prepared to go two months without income,” said Tom Lynn, chairman of Dallas commercial property firm NAI Robert Lynn Co. “The companies that haven’t been able to access their properties and run their businesses are calling us to see if they can get some relief.” Even a landlord willing to cut his tenants some slack faces obstacles, Lynn said. His loan agreements may preclude free rent. Plus, some leases in retail buildings can be voided if a large percentage of the tenants in the project close down or pull out. Click to read more at www.dallasnews.com.