NAIOP Pittsburgh and URA Release Guide for Commercial Property Owners and Tenants to Avoid Legal Disputes
PITTSBURGH, PA (MAY 11, 2020) – NAIOP Pittsburgh and the Urban Redevelopment Authority of Pittsburgh (URA) have come together to create a guide for property owners and tenants to address equitable strategies for rent relief. Although not a legal document or legal advice, the document is a guide for both property owners and tenants to avoid legal disputes by utilizing strategies outlined in the guide.
There are many things property owners and tenants can do to avoid legal disputes. This guide outlines several strategies that both owners and tenants can use to maximize communication and transparency, while avoiding legal deliberations that can be harmful to both parties.
“These are extraordinary times, COVID-19 has halted local, national and international economies and the commercial real estate industry is no different,” said Brandon Mendoza, NAIOP Pittsburgh Executive Director. “The impact of this pandemic on property owners and tenants, especially in the retail and hospitality segments can be catastrophic, hopefully this guide will put into context what each can do to avoid litigation.”
The guide encourages tenants to be proactive in reaching out to their landlord and to provide documentation to show how COVID-19 has impacted their business. It also notes that the tenant should expect to pay something. Property owners are encouraged to retain their tenants and to work with them in utilizing available resources and finding a common solution.
“NAIOP has been a great partner with the URA and we are happy to collaborate on this important document,” said Greg Flisram, URA Executive Director. “By following these strategies, our friends and neighbors can take measured steps towards preventing vacant storefronts, which is crucial for fostering main street business resiliency. A crisis demands that we all work together, with each side willing to sacrifice, to keep relationships intact and our economy primed for growth.”