Created: April 15, 2020 06:37 PM
ALBUQUERQUE, N.M. — As businesses struggle to pay their bills during the pandemic, an attorney is offering advice to business owners who can't pay their rent.
Dan Monte, an attorney with the law firm of Pregenzer, Baysinger, Wideman & Sale, said he's been seeing the daily struggle between landlords and tenants for the past couple of months.
"Commercial landlords, those that have, you know, they're in a financial position where they've got significant debts that they need to pay and then they've got tenants coming to them saying I can't pay rent, what can you do for us. So the tenant and the landlord both have found themselves in very difficult positions," Monte said.
Monte, who mainly represents commercial landlords in these situations, said the first step is reaching out.
"I think one of the first and foremost things that they should do, and perhaps have already done, and that is to reach out to the landlord and just discuss possible options of rent abatement, rent deferral and see what the landlord is willing to do and what kind of financial position the landlord is in themselves," he said.
Monte also encourages small businesses to take advantage of federal loans to assist them. He said in the cases he's dealt with, landlords have been willing to work with tenants.
"There is a desire for both of them to work out whatever they possibly can. Both sides knowing that this is scenario or a situation that was entirely unexpected and is beyond the control of either of them, and again, I've been pleased with the manner in which the landlords and the tenants that I have dealt with have tried to work together to come up with solutions where they're both OK," he said.
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