Will the Federal Rent Relief Program Work to Save Small Businesses?
We've been hearing from a lot of building owners that the federal rent relief program is too complicated, and might not help enough small businesses.
As written, the landlord would be required to:
- Forgive at least 25% of rent (while still paying 100% of commercial mortgages, utilities, and taxes)
- Sign a non-eviction clause
- Have a traditional commercial mortgage
- Vouch for the tenant about their eligibility for the program
We feel a better solution woul