Commercial tenants, landlords brace for first rent day of COVID-19 crisis
April 1 marks the first time businesses will have to pay their rent since the coronavirus crisis shut down large portions of the economy across Northern Colorado and the Boulder Valley, forcing tenants and their landlords to seek creative solutions that allow both parties to remain viable.
Solutions aren’t one-size-fits-all, Colorado Group Inc. managing broker Jason Kruse said, but there are some common approaches emerging.
“Everyone thinks landlords can just stop receiving rent payments — well, they can’t,” Kruse said. “Taxes don’t stop, insurance doesn’t stop, maintenance costs don’t stop.”