Many Landlords Are Requiring Tenants to Get PPP Funding for Rent ReliefApril 14, 2020 – Media Mention
Craig Coan spoke with GlobeSt.com to discuss the impact of landlords requiring tenants apply for PPP loans to receive rent relief.
“Real estate is so dependent on the liquidity in the credit markets, so anything that is done to prop-up the credit markets will strengthen the real estate markets,” Craig S. Coan, an attorney at Greenberg Glusker, tells GlobeSt.com. “The ability to get the PPP loans, assuming that the are made available sooner rather than later and assuming that the amount that is available is close enough to get people moving forward, will be helpful. In order to give rent deferrals, a lot of landlords are requiring that tenants apply for these loans. They also want tenants to pay something from the loans toward their rent.”