Major restaurants and cafes seek rent cuts, irking landlords

As coronavirus closed stores across the country in March and April, many landlords proved willing to work with tenants and defer rent payments to a later date. Reducing rent outright, however, is another story. According to accounting rules, deferred rent can still be booked as income, whereas reduced rents are treated differently, the Wall Street Journal reported. Rent reductions can also impact property values and the landlord’s ability to get loans. “We are not offering

source https://therealdeal.com/2020/05/19/major-restaurants-and-cafes-seek-rent-cuts-irking-landlords/