A Look into Lease Contracts Non- Performance in COVID -19
In the wake of the ongoing pandemic COVID-19, governments have mandated for the temporary closure for non-essential commercial business activities, to control the rising numbers of COVID-19 positive cases and keep people safe. This measure, however, has put an enormous burden on people leasing and renting commercial establishments. With now everyone being in incessant lockdowns it becomes more speculating for tenants and owners on how they approach this issue from contract management services sides in a way that benefits to all. The plausible reasons anyone under lease contracts will encounter are: Businesses have slowed down or completely shut down depending on places putting their lease obligations in a state of turmoil. Currently, owners and tenants are in a vicious circle of non-payment of rents resulting in non-payment to bank lease loans for owners. Both the above situation has led both tenants and owners to review their lease ...