Amidst this global pandemic, everyone is facing a hard time mentally and professionally. No matter if it’s someone owning a multi-million business or someone who works for their daily wages; the constant flow of having excess or enough amount of money in the bank accounts has paused for everyone.
And only those who have been lucky enough in the in-betweens have been able to get going with their business; either through at-home services or as a food or healthcare worker. But even in these rare cases, we can’t be confident if the times have constantly been easier for anyone.
The Situation of Retail Landlords:
From the beginning of 2020, things have been worsening for everyone. From a businessman to a shop worker, and even a 9-5 employee; everyone’s struggling financially today. And since we can’t differentiate who has been facing the worst time from all the above professionals; one can say that the retail shop owners aren’t at ease either. Since most of them don’t even have a second option in this situation, and the retailers haven’t even been able to pay the rents.
Now in the present time, even when things might seem to be coming to normal as 90% of the retail shops are open in the US – one can’t be sure about anything still. As in the first quarter of the year, the retail shop owners have been able to collect only 56% of the shop rents.
And since these rents are paid four times a year; it’s hard to even predict how things will get impossible for the retailers to pay the rent further. And that leaves no doubt in how the owners are also not having an easy time facing this pandemic financially, with such difficulties.
Now some things are getting normal (while the SOPs are followed), but we’re sure that the financial sector will take its time to get back on track. However, let’s just hope things get better or at least get going for everyone in some way!