Webcast: Global REITs – Collecting rent in a pandemic
With pandemic clauses a rarity, the sanctity of the lease contract has come into question. The all-encompassing nature of the pandemic shutdown has meant that a range of tenants face revenue losses that impaired their ability to pay rent in April and beyond. Many landlords have publicly announced a willingness to work with troubled tenants in order to maintain occupancy and hope to be repaid in the future for rent deferred today. How much rent will be deferred, forgiven, reduced or written off remains unclear. Governments have sought to provide assistance for some, but ultimately they have signalled it is now up to landlords and tenants to sit down and discuss.