Critical lease clauses for commercial properties during and post COVID-19 era

While scientists, epidemiologists and vaccinologists are toiling day and night around the globe, working their fingers to the bone for the benefit of humankind, the world has to keep moving. Almost everyone says that life will never be the same again post coronavirus (COVID-19) era. A disruption of an unforeseen magnitude has hit a good number of industries. Perhaps the hardest hit are; entertainment, finance, health, travel, transportation, petroleum, tourism, catering, retail and fine wine and dining.

Also hit, and badly so, is the real estate industry. Both lessors and lessees are bleeding money. The question is, how could each party meaningfully protect its interests going forward? This article suggests a restructuring of existing commercial leases to include clauses that would reasonably accommodate interests of both parties with a view to averting conflict and possible litigation.