We are all reeling from the hit the Chinese Coronavirus has dealt our economy here in Texas and the world. Our office lease rents are coming due and so are the debt payments for those of us that own our own buildings. The good news is that people in Texas and the USA are tough and resilient. We have suffered tough events before and we will prevail. Keep doing your best. In the meantime, I’m sure all of you are wondering about rent and debt payments for your commercial space. Be it for office or warehouse space. One suggestion we have is to write a letter to your landlord or lender and ask that the next four months rent or mortgage payments be deferred and added to the back end of your office lease or building mortgage. Get something in writing from them and check with your commercial real estate attorney before you make changes to what you pay or sign anything they present to you. If the landlord or lender will not agree to a 100% deferral they may agree to something to help you out. It is best to ask as soon as you can before they are overwhelmed.
Keep a positive outlook and keep working toward the goal of business as usual. Every generation has a Pear Harbor and this my friends is ours.
There are a lot of ways we can focus our energy to make the best use of this time. What will you do to stay relevant? What will you say to your clients in trouble? Learn more tips to help you with your office lease space right here.