Amid the COVID-19 pandemic, small businesses are closing their doors due to non-essential business shut downs, leaving tenants without being able to pay landlords.
West Palm Beach partner Matt Chait discussed how most commercial leases don’t have provisions for rent relief in the event of a pandemic. The decision is based solely on the landlord. Additionally, Matt stated that the Executive Order suspending evictions for 45 days issued by Governor Ron DeSantis on April 2 “only applies to residential leases.”
Possible solutions include deferring rent for several months, extending the duration of the lease, spreading out smaller payments over the remainder of the lease and temporarily reducing the rent.
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About Matthew R. Chait
Matt Chait is a partner in the Business Litigation Practice Group. His statewide practice focuses on commercial real estate and land use litigation, commercial foreclosure and loan guaranty matters, and general business litigation, including partnership and LLC disputes, healthcare, fraud, deceptive trade practices, and complex judgment domestication issues. A Martindale-Hubbell AV® Preeminent™ rated commercial litigator, Matt has been recognized by the Daily Business Review as a top 40 attorney under 40 and as a Rising Star by Florida Super Lawyers. He is co-founder and co-editor of the Commercial Real Estate Litigation blog.