Approach those negotiations as ongoing and focus on the “Stay home” period. It is likely that over the duration of the pandemic, landlords and tenants will be negotiating and adjusting lease terms based on sales levels.
Currently, the moratorium only protects tenants during the 90-day period and rent for those 90 days is still due.
The way the moratorium is written, it is unclear whether a landlord could start eviction proceedings immediately after the end of the moratorium, even if a tenant made up the back rent immediately. This is still uncharted legal territory.
How much to negotiate into the future really has to be determined on a case-by-case basis. But it is suggested that tenants:
- avoid committing to agreements that raise their overall financial obligation during the remaining life of the lease.
- avoid repayment schedules that are very short since sales will most likely be low when the Stay Home order is lifted.
Since a date to lift the “stay home” orders have not been determined, landlords and tenants will need to communicate on an ongoing basis. It is important to always be respectful and positive; landlords and tenants are going to be collaborating a lot during this pandemic, and relationship preservation is key.