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Covid-19: Struggling to pay - or collect - the rent?

2 April 2020 7:37 PM
Tags:
The Money Show
Bruce Whitfield
Personal finance
Property
rent
landlord
rental property
tenant
rental
coronavirus in south afrca
covid-19 in south africa
property lawyer
Julian Scher
force majeure
Act of God
Strauss Scher Attorneys
renting and letting

The Money Show's Bruce Whitfield interviews property lawyer Julian Scher about rental payment problems caused by Covid-19.

South Africa is facing a deep and prolonged economic downturn amidst the Covid-19 outbreak.

Many tenants who were formerly in good standing will soon be unable to pay their rent.

Picture: 123rf.com

Many leases don’t have a “force majeure” (aka “Act of God”) clause to cover for events such as Covid-19.

In other words, it’s a breach of contract, if a tenant becomes unable to pay.

But these are extraordinary times; landlords and tenants may come to an amicable agreement while the crisis persists.

The Money Show’s Bruce Whitfield interviewed Julian Scher (Partner & Property Lawyer at Strauss Scher Attorneys) about rental payment problems caused by Covid-19.

In most commercial leases you should find a clause that deals with events beyond the control of the parties… A classic example is if the building is destroyed…

Julian Scher, property lawyer - Strauss Scher Attorneys

Read the lease… if there is nothing in it, then we fall back on common law… it, unfortunately, doesn’t recognize hardship as a result of the Covid-19 environment…

Julian Scher, property lawyer - Strauss Scher Attorneys

In my view, Covid-19… performance is still possible…

Julian Scher, property lawyer - Strauss Scher Attorneys

For more detail, listen to the interview in the audio below.

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2 April 2020 7:37 PM
Tags:
The Money Show
Bruce Whitfield
Personal finance
Property
rent
landlord
rental property
tenant
rental
coronavirus in south afrca
covid-19 in south africa
property lawyer
Julian Scher
force majeure
Act of God
Strauss Scher Attorneys
renting and letting

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