BRADLEY & KENNETH FISHEL OF RENAISSANCE PROPERTIES ANNOUNCE NEW LEASES RENT RELIEF
Renaissance Properties The ownership team of Bradley and Kenneth Fishel of Renaissance Properties has announced that new leases signed will contain a provision allowing rent relief in the event of a future pandemic shutdown.“Tenants shouldn’t fear signing new leases due to a future stay-at-home order. These lease provisions will provide comfort that they won’t have to continue to pay full rent for space they can’t use”, states Bradley Fishel, Vice President. Under the lease provisions that Fishel provides, in the event a stay-at-home order is issued by the government, the first month of the order results in a 50% reduction in the rent, and the second month a 75% reduction. Thereafter all rent is abated until the stay-at-home order is lifted. The Fishels have been busy adapting their portfolio of office buildings to the new reality of office leasing. “The best way to lease space is to fully comply with all scientific recommendations” states Kenneth Fishel,...