BREAKING: 6 month moratorium on evictions for tenants from residential and commercial leases “on a financial distress basis”.
No set in stone principals to help landlords or financiers, but these are set to be released some day this week.
The government wants all three sides of the equation (banks, landlords and tenants) to sit down and work out a deal together. To work cooperatively, and in the best faith possible.
“my message to … commercial tenants, and … landlords, is a very straightforward one – we need you to sit down, talk to each other and work this out, … to get through this crisis.” – PM 2020
We need more details, but this hybrid approach is kind of interesting.
Still doesn’t really help the landlord with a mortgage, rates, utilities, etc.🏦
Or property managers, real estate agents or those who are actually paying their rent. 🏘
Stay tuned for more details!
