With the recent outbreak of the novel coronavirus (COVID-19) in the United States, all Americans are forced to wonder how this pandemic will affect their lives going forward. It’s hard to imagine any aspect of life that won’t be affected by this global tragedy.
Landlords, tenants, and real estate investors in particular are already facing many difficult questions. How will this crisis affect your contracts? What are your options? Does the coronavirus excuse your performance, or will you be forced to pay damages in the event you cannot perform? What will happen to your residential and commercial leases?