Wave of Small Business Evictions on the Horizon

Wave of Small Business Evictions on the Horizon

Wave of Small Business Evictions on the Horizon

By SocketSite at SocketSite™
Governed by state law, local governments normally can’t exert control over commercial leases. But having been enabled by an Executive Order issued by Governor Newsom back in March (N-28-20), and then extended in June, San Francisco was able to enact an eviction moratorium for small and medium-sized businesses, effectively defined as businesses with up to $25 million in pro-rated gross receipts in 2019, which have been directly impacted by the pandemic.
But unless Governor Newsom extends the State’s Executive Order, which is set to expire at the end of this month, San Francisco’s commercial eviction moratorium will expire on September 30. And unlike San Francisco’s moratorium on residential evictions, landlords will not be restricted from evicting businesses for past due rents, with a one-month grace period to cure, once the commercial moratorium expires.
article date: 2020 09 16
posted: 2020-09-16 11:37:41
Tags: Bay Area ,real estate,noteworthy links

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