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Old 04-15-2020, 09:23 AM
 
Location: Connecticut is my adopted home.
2,302 posts, read 3,249,902 times
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Corresponded with my landlord as I'm closed until May 20 at the earliest. In the end I will have been closed almost a quarter due to COVID. I'm in a privately owned building with 3 retail spaces with apartments above the retail spaces. Since I and the other tenants are considered non-essential businesses and one storefront owner is renting an apartment in the building, unless my landlord owns the building free and clear, they may be in a similar position as we are having a potential issue with over half of their renters, maybe more.

The end outcome of the correspondence was "pay what you can in May". There was no discussion about what happens later. It was decent enough that I'll bust hump to pay the full rent to the end of my lease in January. It will come out of other income and will put fair stress on our household month to month. We will tighten our belts and hope for the best.

Given my predisposition to respiratory illness going awry after a bad bout of pneumonia in my early 30s I really don't know if I can reopen until there is either very reliable and widespread testing or a vaccine. Most of my clients are young and those folks tend to be carriers. So many unknowns. I've looked at every source available for help but as a sole proprietor, micro business the EIDL was the only real fit. I applied March 29. I received a form email a few days ago directing me to links that my business is not qualified for. Not promising.

I know what this is going to do to my area's seasonal towns full of cute shops like mine and it's not going to be pretty. If this flares up again and again in waves like Fauci suggests it might, my Hail Mary pass is going to be some type of storage (but storefront looking) 6 month lease at a much reduced rate in January with an option for the landlord to lease with a month's notice to move so that I can leave my shop in place unopened until the waves pass but stanching the bleeding somewhat while I wait to reopen. Too many unknowns though. Way too many.
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Old 04-15-2020, 09:57 AM
 
5,109 posts, read 3,404,798 times
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Originally Posted by AK-Cathy View Post
Too many unknowns though. Way too many.
So many unknowns. I've tried to look at every scenario. Then I find myself hopeful one minute then depressed the next. It's hitting everyone.
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Old 04-26-2020, 01:20 PM
 
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As I mentioned above, I've been very realistic with our commercial landlord. This week he said their company is offering tenants 3 months deferred rent, then paying it back over the next six months on top of regular rent. No late fees, no extra charges.
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Old 04-27-2020, 08:15 AM
 
Location: East of Seattle since 1992, originally from SF Bay Area
32,338 posts, read 58,955,542 times
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Originally Posted by KaraG View Post
As I mentioned above, I've been very realistic with our commercial landlord. This week he said their company is offering tenants 3 months deferred rent, then paying it back over the next six months on top of regular rent. No late fees, no extra charges.
Our rent relief program is very similar, but we are allowing 4 months deferred rent, paid back over 12 months, if their lease goes that long. A few are doing amendments to extent in order to get the 12 months. The month-to-month tenants cannot get any relief, other than allowing them to vacate without the normal 30 days notice. In the first week since we notified them we have about 40 tenants taking advantage of our program.
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