The coronavirus outbreak will have an impact on property across the country. The depth of the impact will depend on the economic impacts the outbreak has. KJK’s Real Estate Response Team is skilled at navigating complex leasing and financing situations and our guidance below builds on our decades of experience representing landlords, tenants, real estate investors and property managers.
By Stephen D. Richman As scientists, medical professionals and politicians debate the direction of the “COVID-19 curve” in Ohio and how “re-opening the economy” may affect physical well-being, there is no debate about how the pandemic has hurt the financial health of...
By Steve Marrer & John Archer Even before Ohio Governor Mike DeWine issued an Executive Order “requesting” that commercial landlords suspend rent payments and commercial lenders forbear loan payments, commercial tenants and borrowers were trying to find ways to...
By Stephen D. Richman Real estate taxes in Ohio are collected six months in arrears. This means that real estate taxes and assessments for the second half of 2019 will be due after the first half of 2020. Most counties in Ohio would ordinarily collect this payment...
By Justine Lara Konicki Amidst worry over COVID-19, many borrowers are prudently reviewing their loan documents to ensure that they remain compliant and as secure as possible in these uncertain times. But what happens if a default on your loan is triggered during this...
By Jim Sammon & Matt Viola It’s no secret that the restaurant industry has been knocked to the canvas by the COVID-19 coronavirus pandemic. In order for it to rise again, it will be necessary for both restauranteurs – and, if they differ, their landlords – to...
By Steve Richman & Matt Viola Earlier this month, Gov. Mike DeWine signed an executive order in an effort to breathe a sigh of relief into Ohio’s small businesses. The Order includes the following “advice” to commercial landlords and tenants: Landlords are...
By Stephen Richman The Ohio Environmental Protection Agency (Ohio EPA) issued a new order last week preventing water shutoffs due to not paying bills during the coronavirus pandemic. This order is retroactive to Jan. 1, 2020. As summarized by Governor Mike DeWine, “If...
Ohio’s Foreclosure & Eviction Prevention Order Provides Assistance to Small Businesses With Mortgage, Rent Payments
By Paige Rabatin & John Archer Governor Mike DeWine signed Executive Order 2020-08D Wednesday, April 1, seeking to provide assistance for small businesses with mortgage and rent payments. The Supreme Court of Ohio previously provided guidance to local courts to...
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) provides for a $2 trillion economic stimulus package designed to mitigate the harm caused to Americans and businesses by the coronavirus pandemic. The bill is the largest stimulus package in U.S. history. It is also the third Congressional action taken this month in response to the pandemic. The U.S. Senate unanimously passed the CARES Act Wednesday. The House is expected to vote to approve the CARES Act Friday morning and President Trump has indicated that he will sign it immediately.
As you might imagine, federal, state and local COVID-19 coronavirus related executive orders may prove good for our physical health these days, but they are quickly taking a toll on the financial health of homeowners, tenants and businesses.
The good news is that here in our neck of the woods – and across the country – moratoriums (aka temporary prohibitions) are being proposed, adopted and amended on an almost daily basis in regards to evictions, foreclosures, utility shut-offs and other potentially crushing blow measures against those struggling to pay bills (and literally survive) in the wake of the coronavirus pandemic…
If you have specific questions about any of the information in our articles, please reach out directly to the author or contact the Chair of the Real Estate Response Team, Matt Viola.
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