Home
Log in / Sign Up
    Private Messages   Advanced Search   Rules   New User Guide   FAQ   Advertise   Contact Us  
Forum -> Coronavirus Health Questions
Business Rent if can't use store in New York



Post new topic   Reply to topic View latest: 24h 48h 72h

amother
OP


 

Post Fri, Mar 20 2020, 1:24 pm
Governer Cuomo announced all businesses must close and no one can be manning stores and physical work places. To those of you who are business owners: are we supposed to pay rent during this period if the governer said we cannot use the property? Who holds the bag in this?
Back to top

notshanarishona




 
 
    
 

Post Fri, Mar 20 2020, 2:07 pm
Presuming your stuff is still in the storefront and you are not handing the key over to your landlord of course you still have to pay rent .
Back to top

Amarante




 
 
    
 

Post Fri, Mar 20 2020, 2:16 pm
You would still owe rent but there is a moratorium on evictions. Your landlord and you could theoretically negotiate some kind of reduction in rent since there will be so many businesses collapsing so a landlord might prefer a lower rent rather than a vacant building.

Your lease might contain specific provisions and your business insurance might cover closure of store due to a force majeure event.
Back to top

ectomorph




 
 
    
 

Post Fri, Mar 20 2020, 2:23 pm
It is not in your landlords best interest to let you fail. It is in their best interest to suspend rent. If you can get them to understand that, it would be ideal. Make sure to frame how you've always paid and simply do nit have the money. They cant evict you now anyway.
Back to top
Page 1 of 1 Recent Topics




Post new topic   Reply to topic    Forum -> Coronavirus Health Questions

Related Topics Replies Last Post
Where do you store your wigs?
by amother
4 Yesterday at 2:17 pm View last post
A hotel in New York area for Shabbos sheva brachos
by amother
29 Yesterday at 2:30 am View last post
BP - plus size woman's clothing store. Where is it located?
by amother
9 Tue, Mar 26 2024, 11:10 am View last post
Ami business column this week ? Purim joke ?
by amother
17 Mon, Mar 25 2024, 6:40 am View last post
Question about Pomegranate store
by amother
3 Fri, Mar 22 2024, 1:19 am View last post