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Tenants ask for rent relief as pandemic shuts down business

INSIGHTS FROM TOM LYNN FEATURED IN THE DALLAS MORNING NEWS

But with the unprecedented restrictions caused by the coronavirus, building tenants and their landlords are scrambling to deal with the new reality.

“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.

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2020-03-24T17:04:10-05:00March 24th, 2020|NAI Robert Lynn, Office Division|
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