Part 1: Vantage RES Top Tips for Rent Relief
The COVID-19 pandemic is a fluid and evolving situation, with mandates impacting our society that appear to be changing by the hour. As experts in landlord/tenant relationships, Vantage RES is providing you with our top tips to make sure you aware of your obligations as a tenant during this crisis. Please do not hesitate to reach out to us if you have questions about your specific situation during this perilous time.
Vantage RES will continue to be a support system for you and will guide you through the options you have regarding your specific lease agreement. However, we do strongly advise that you consult with your legal counsel as soon as possible. We are happy to work in tandem with your attorney to find the best viable solution. Given the current social distancing rules, we recommend you schedule a phone call, rather than an office visit, with your counsel.
Listed below are our top tips for engaging with your landlord and requesting rent relief during the pandemic.
- Engage your legal counsel to discuss and verify all the steps listed below. We are not attorneys, and we want to make sure that your counsel is aware of your respective situation and advises you, along with us, every step of the way.
- Review your lease as soon as possible. Become fully aware of your legal obligations and read any fine print in the lease that could alter your understanding of the agreement. Pay special attention to the “Act of God” clause in your lease and review with your attorney.
- Reach out to your Insurance Agent to ask if your business and insurance policies allow you to qualify for Business Interruption Insurance. Your landlord will also need this information from you.
- Be proactive when engaging with your landlord. Communication will show your landlord that you want to remain a good neighbor and, above all else, that you are committed to your business and your space. Call your landlord and speak candidly about the situation you are in. Be prepared with your lease and any specific questions or asks you plan to make.
Following these four steps will be helpful when securing a Rent Relief Application from your landlord. We hope these quick tips will help you navigate this complex situation. We will continue to keep you updated as the news changes and new updates surface.
We wish you all the best and remain here for you for any questions.