Commercial Eviction Moratoriums Lifting: Consideration for the Law, the Lease and Level of Risk is Paramount
At the beginning of the COVID-19 pandemic, many state and local jurisdictions across the United States imposed substantial moratoriums, hindering the ability of commercial property owners of retail and office space to exercise eviction against delinquent tenants. The moratoriums (or restrictions) varied in severity from jurisdiction to jurisdiction. While evictions are an option of last resort for owners, more than a year later, some state and local jurisdictions are easing or removing such restrictions altogether, prompting building owners to consider next steps for particularly difficult situations. To determine whether to proceed with eviction of delinquent commercial retail and office tenants, owners will need to consider the laws of the local jurisdiction, the terms of the lease and the owners’ own level of business risk.
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