One of the most challenging expenses for small businesses that were forced to close their doors is to cover their monthly rent payment. While they can layoff staff and cut back on supply purchases, rent is a true fixed cost. Therefore, it is important to contact the landlord and try to negotiate a temporary deferral (or at least reduction) of rent payments until it is able to bring its revenues back up to more than 80% of normal levels or until the business is able to access government relief funds.
Landlords would much rather provide some temporary rent concessions than face the bigger issue of trying to collect rent owed if the business fails. Landlords will hopefully be receptive to one of the following repayment proposals: