We provide retail lease space to many dozens of small businesses who the government has ordered closed, and dozens more whose business are are so limited that they lose money. The current orders are devastating to the commercial real estate industry. Local government insists on collecting property tax for this period while simultaneously ordering large portions of the property unuseable.
The orders are even more devastating to individual small business owners and their employees. Comments we have received from such businesses include:
"COVID-19 has left me without work and zero income coming in for at least three weeks, and the next projected lift to work is May 4 (hoping that doesn't extend further again) I understand we are all struggling, I still cannot believe this is our world right now. I'm a single mother of two and trying everything I can to get through this. "
"Since this Coronavirus disaster started, people scared and my business went down and very slow, after that city announced about stay home order, business went more down and all day only 5,6 customer at the store.. this is the only way of our household income to pay our bills and our hands are very tight in this situation"
"I had to let my staff go because i can't pay them."
"[O]ur number of patients has decreased in the last weeks to only 50% of the average. This has had a severe impact on the clinic's finances since while the income was cut in half, on the other hand, the expenses did not decrease and on the contrary tended to increase."
"Even if we can reopen our center after this closure period, it will take months for us to return to normal operating status. This is an uncertain and scary time for our learning center because we are a small franchise and do not have larger assets that we can rely on. "
Many other businesses communicating with us express similar sentiments.