Proposed California Bill Would Allow Retail Tenants To Break Leases With Little Penalty
- By: admin
- On: 05/25/2020 16:34:11
- In: Coronavirus/COVID-19
- Comments: 0
A proposed bill circulating in California's Legislature would allow a commercial tenant to terminate its lease with a landlord if a resolution taking into account the economic effects of the coronavirus isn't met. If passed, the legislation, Senate Bill 939, would allow a tenant struggling because of state or city shelter-in-place orders to negotiate in good faith with its landlord. But if neither can find a resolution, "the commercial tenant may terminate the lease without any liability for future rent, fees, or costs that otherwise may have been due under the lease by providing written notification to the landlord." SB 939 is backed by California Sens. Scott Wiener, a Democrat from SanRead more at: https://www.bisnow.com/los-angeles/news/commercial-real-estate/proposed-california-bill-would-allow-retail-tenants-to-break-lease-scot-free-104446?utm_source=CopyShare&utm_medium=Browser?utm_source=CopyShare&utm_medium=Browser
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