Expect Rent Collection Challenges Through the End of the Year

For commercial property owners, the rent collection issues are only beginning. Lawyer Mark Leverette expects commercial tenants will have payment issues through the end of the year, at least. If a second wave of the pandemic hits, it could be longer.

“Considering the impact that we have experienced in the economy so far, it is expected that most acute and evident rent issues will affect most business for the remainder of the year,” Leverette of BPM LLP, tells GlobeSt.com. “If there is a second wave of the virus, including another quarantine lockdown, the problem could extent through 2021. The “Wildcard” is the effect of an economic downturn, and that will be an industry-by-industry analysis suited for a well-versed economist.”