Commercial Tenants And Landlords – Impact Of Covid-19

Commercial Tenants And Landlords

Hospitality Industry vs Lockdown

Commercial tenants and landlords whose businesses do not provide critical front line services, are likely to have their doors shut at the moment. Sounds grim but they are protecting the NHS and saving lives. At a cost though. Since January the world has been nervous about the Covid-19 spread which became officially a pandemic in March.

Everyone’s suffered and the hospitality industry was the first to completely shut down. Bars and restaurants began to notice a decline in the number of customers since February. Event organizers also noticed a considerable decline with delegates cancelling or not registering to attend events, cautiously avoiding large gatherings.

National Lockdown

National lockdown, social distancing and quarantine ordered by our prime minister, minimized the spread of the coronavirus. At the moment, all businesses have been hit by the lockdown as well as the social distancing guidelines and of course, and unfortunately, many of us have contracted this horrible viral disease and some have tragically lost their lives.

The pandemic and lockdown restrictions have changed the way we live, the way we interact with one another and the way we work, if we’re able to work. Every day is a new day, with new information or guidelines coming from the government and health officials. It’s difficult to tackle whatever challenging situation we find ourselves in, both in our personal lives and work or business.

Work Life Unbalance

The work life balance we used to try to achieve has become unbalanced. Everything has shifted or completely changed. At home there are pressures and our businesses are under excruciating pressure, regardless of whether they’ve been temporarily shut down or not.

Those who run businesses, particularly those with staff on payroll, are facing turbulent times, despite any promises made by the chancellor. If you run a business, you have responsibilities that will not disappear with the government imposed lockdown. But because it is all beyond our control, the government has been working hard to come to our aid. So we need to think positively and creatively.

Commercial Tenants & Landlords – Duties And Responsibilities

Before the UK went into lockdown, commercial tenants and landlords had responsibilities with each other and the community. But then the UK government took the very difficult decision of ordering temporary closures of venues, bars and restaurants. Does that mean that all those responsibilities changed or are no longer there? Yes and no. Responsibilities remain unchanged but what has changed is how we deal with them.

We need to build a stronger future which will come straight after the lockdown is lifted. So, shall we prepare ourselves for a better future? We’re asking landlords and tenants to look after each other, protect your businesses, hold on to a hope that the future is brighter than it looks. SG

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