On April 16, 2020, David Alexander, Chair of Masuda Funai’s Real Estate Practice Group, participated in NICAR’s (Northern Illinois Commercial Association of Realtors’) first Virtual Lunch Series.
David Alexander discussed the impact of the COVID-19 global pandemic on lease agreements and landlord-tenant relationships. In particular, he discussed the manner in which the crisis could impact force majeure clauses in leases, including delays in the delivery of possession or construction of tenants’ spaces, and the various ways landlords and tenants can approach rent payment obligations during the pandemic.
NICAR is accredited by the National Association of REALTORS to serve the commercial property practitioners in 13 counties of Northern Illinois, including Cook, DuPage, Kane, Ogle, DeKalb, Kendall, Lake, McHenry, Kankakee, Grundy, Will, Boone and Winnebago. NICAR’s mission is to provide support to increase economic opportunities through “best practices”: limiting liabilities, educational opportunities and facilitate communication and the political agendas to insure support that best serves the membership and association; and to promote professionalism and ethical standards in real estate management.
For any questions regarding COVID-19 real estate issues, please contact David Alexander at dalexander@masudafunai.com in the Firms’ Real Estate Practice Group.