The Unintended Impacts Of Not Paying Your Rent

The global COVID-19 pandemic has resulted in an unprecedented impact on our economy, with many businesses closing their doors and working from home, or ceasing operations entirely. This has generated a ripple effect of questions around an occupier’s obligations, most notably their requirement to continue to pay rent. Before you decide to skip out on your rent payment on April 1st it’s crucial to understand the consequences that will have.

Our experience with some of the largest institutional landlords in Canada has shown that rent relief and abatement discussions are not met with any eagerness on the landlord’s part, and many landlords, with institutional owners, have financial covenants, financing agreements and fiduciary obligations in place that preclude such renegotiation being available to all. Having said that, during these extraordinary times, landlords may offer some relief, even where there is no legal obligation to do so.

Since your business is legally bound to abide by the terms of the lease, it’s important to know that any non-payment of rent without agreement from the landlord may have unintended consequences for tenants. So what should you do? There are five steps that organizations should take to fully understand their current positions, your legal and financial obligations and the options available to you. 

Read the full whitepaper here

January 17, 2022

Who Should Decide Where Staff Work Each Day?

Executing a successful transition to hybrid work requires a deep understanding of company culture by business leaders and managers. The more you understand your organization's unique culture, the better prepared you are to execute a remote strategy that enables your workforce to enhance their outputs. In the fourth article of our Work + Place series co-authored by Jamie Grossman and Stacey Litwin-Davies, they discuss the factors business leaders need to consider when deciding where staff should work when operating in hybrid and remote work environments.
January 10, 2022

Balancing People, Space and Tech to Achieve Cost Neutrality

As organizations navigate the post-pandemic office era, business leaders need to balance cutting costs in one area as it affects another. To achieve cost neutrality, organizations must focus on investing in employee flexibility, creating a desirable working environment, and adopting technology solutions to facilitate hybrid work. Read the third article in our Work + Place series co-authored by Stacey Litwin-Davies and Jamie Grossman as we explore how business leaders can design a workspace that serves as a powerful recruiting tool for new candidates and a robust retention tool for existing staff.