The tenant may also receive insurance benefits as part of a service interruption policy. In any case, enter in your contract a language in which the tenant is asked to use PPP products or other government or insurance revenues that become available later to reimburse the lessor and compensate for the relief paid. Use our checklist for rent relief trade negotiations to help with these negotiations. 3. Conditions for the tenant for the monitoring of insurance rights and/or state relief packages. Rent relief may be conditional on seeking available recourse to federal and federal bailouts. Or the parties might consider recovering the deferred rent to the extent that the tenant receives insurance income or rescue funds. Please visit our Coronavirus Resource Centre for more information and resources on a number of state aids. Deferred rent can be repaid in instalments, using a method approved by both parties. Repayments can be spread over a period of at least 2 years, but not more than 3 years.

During the extension period, lucas has resumed operations (since he now runs online courses and outdoor bootcamps) and he now only has a 20% reduction in revenue, so he returns to paying the full rent, as Malcolm`s costs haven`t changed. In response to Lucas` good faith, Malcolm offers to help a little more by covering some of the outbound costs until December 31, 2020. For commercial tenants and landlords, the program offers the following support: when Luca Graces receives an email, he checks the website of the “Small Business Commissioner” and acknowledges that he was wrong. Luca sees that he should have asked for a rent reduction, shared reasonable information, and negotiated a fair deal with Grace. Luca also acknowledges that Grace could legitimately drive him out since she made a real attempt at negotiation, but he did not cooperate or act in good faith.