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With a recession looming, commercial landlords and tenants may once again need to exhibit the flexibility they displayed to get through the COVID-19 pandemic. While helping tenants meet their rent obligations will be the first-choice approach, landlords also need to be prepared in case tenants default. Rather than automatically seeking eviction, landlords may need to consider the possibility of letting the tenant remain in the space and gradually pay off what it owes, either with or without interest. Here’s how to implement such a workout strategy.
