I have spoken with a number of restaurant owners and managers the last few weeks and we can all agree that this is a tough time like we’ve never seen before. If you haven’t looked at your lease yet, do it now. If you haven’t talked to your landlord about a lease modification do it now. If you haven’t engaged legal counsel to assist you, do it now.
The last few weeks have been busy with landlords and tenants scrambling to try to figure how they are going to deal with the impacts of Covid-19. Here are 4 quick tips to get you started:
Locate your lease and determine what contractual rights you have.
Talk to your landlord and determine the options they may offer you.
If you reach an agreement with your landlord, get it in writing.
If you are unable to reach a resolution with your landlord, be sure you have an attorney on your side to help negotiate a resolution.
Don’t get locked out or have your lease terminated for something that was beyond your control.