Posts Tagged ‘rent abatements’

The cost of lost amenities in COVID-19

May 11th, 2020 by Karly Wilson

A young couple is renting a one‑bedroom plus den unit in a building. They both work from home, and when looking for a new place they were concerned about the cost of renting a place large enough for them both to have a workspace. They chose this building because of its amenities: a gym, a party room, and a common workspace with couches, large tables and free internet access. One of the tenants was able to use the den in the building as a home office and the other used the common workspace in the building. However, with the onset of the global pandemic, all of the shared spaces in the building have been closed, forcing them both to work in the apartment.

Amenities like gyms, pools, business centres, and party rooms are used to induce tenants to move to certain buildings, and often pay higher rents. Now in the age of COVID‑19, tenants have yet to receive any rent relief and are unable to access common spaces that encouraged them to accept these higher costs.

What options do tenants have for relief? And what will that mean for landlords? Continue reading “The cost of lost amenities in COVID-19”