A “TENANT’S PLAYBOOK” TO COVID-19

A “TENANT’S PLAYBOOK” TO COVID-19
Insure Covid

Newmark Knight Frank’s Tenant Playbook is intended to be a resource to help tenants gain a clearer understanding of existing leases and challenges and devise a strategy, during the pandemic.

DEVISE A COHESIVE STRATEGY

Most important to a tenant’s business continuity, today, is understanding and staying up-to-date on the evolving situation; implementing a flexible strategy; and remaining focused. A well-thought-out and tailored preparedness plan impacts tenant survival now and into the uncertain economic future.

CASH IS KING

In this environment, protecting cash-on-hand is essential for businesses and tenants. Considering natural fluctuations in business (e.g., seasonal sales), comparing current and historical financials provides a tenant an intimate understanding of the pandemic’s impact on the top-line (gross revenue) and bottom-line (net profit). Rent obligations will stand out among the largest impacts to cash-on-hand.

COLLABORATE TO FIND A LEASE SOLUTION

Reviewing and scrutinizing the existing lease prior to a conversation with the landlord allows a tenant to approach the situation with one solution, or several options. Asset owners, tenants and their advisors must work collaboratively to identify a path forward. A trusted advisor, such as Newmark Knight Frank, can guide tenants through the process:

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