PEBB Chief Development Officer Eric Hochman Comments on Changes in Leasing Agreement Language Due to COVID-19 in the South Florida Business Journal
Experts say changes to the decades-old language in retail and restaurant leases are on the horizon as a result of the Covid-19 pandemic.
New leases are being written with substantial changes, particularly with regard to provisions that provide relief for tenants that are unable to fulfill their contractual obligations because of circumstances out of their control, such as a natural disaster or pandemic. This provision is known as a force majeure clause.
