Offer New Uses Rather than Rent Cuts for Tenants Adversely Affected by New Laws

Perhaps the only positive aspect of the COVID-19 shutdowns, at least from a commercial leasing perspective, is how it made landlords aware of just how dependent on their tenants they are. The real winners of the pandemic were the landlords that found a way to work together with tenants to adjust their leasing arrangements so as to ensure their mutual survival. That approach could be the formula for surviving not only public health emergencies but other unforeseen crises that pose a fundamental threat to a tenant’s business.