Tuesday, April 28, 2020

Retail Tenants, Landlords Clash Over Proposed Pandemic Rent Clauses

The Wall Street Journal
Some retail tenants are aiming to rewrite their leases to include pandemic escape clauses and other additional forms of relief, setting up a showdown with landlords who oppose these measures.

Most retail leases limit a tenant’s ability to claim a rent abatement based on business interruption or force majeure clauses, which either exclude pandemics or don’t relieve a tenant from paying rent. Tenant lawyers say they are insisting these clauses become a part of new leases.. . . more