- Renegotiating lease terms in a COVID-19 environment
- The tenant’s position
- The landlord’s position
- Framework for negotiation
- Possible negotiated outcomes
- Rent holiday
- Rent frequency
- Longer-term rent reductions
- Inclusive rents/service charge caps
- Turnover rents
- Increased lease duration
Property analysis: This article considers the position of both landlord and tenant renegotiating lease terms amid the coronavirus (COVID-19) pandemic. Martin Smith and Matthew Pohlman of Goodwin Procter LLP consider some of the drivers for those negotiations, possible outcomes and interaction with the recently published Code of Practice for Commercial Property Relationships during the coronavirus pandemic.
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