Coronavirus: some investment companies are giving restaurants a break in rent so they have money to pay their employees while they aren't working
The Coronavirus epidemic is forcing many governments to take so many restrictive measures that it is causing many non-essential businesses (like bars, restaurants, and gyms) to temporarily shut their doors. As a result, many workers have been without a paycheck for at least a month, and many are struggling to pay their bills or even buy groceries.
It's one thing if workers are without a job temporarily; its another thing if they continue to be without work for another 2-3 months (which, given the circumstances, could be a great possibility). Fortunately, governments are already searching to come up with solutions.
In the United States, workers can apply for unemployment benefits. The process, however, to receive these benifits is rather lengthy and only amounts to 30-40% of a worker's actual earnings. The american government has also suspended mortgage and student loan payments, but it's still not enough for many americans to afford their rent. This does not mean that all realtors or property managers aren't giving their tenants a break. Some actually do see the impact the Covid-19 pandemic is having on their residents/local business owners and want to do what they can to help.
The agency Young Investment Company LLC made an announcement on their Facebook page that the won't ask restaurant owners to pay rent for the month of April. They actually told them to use the money to pay their employees (who haven't been able to work for the last month) and take care of their families.
This is definitely not a great period for many of us: apart from taking every precation we can to prevent ourselves from contracting the Coronavirus, we are struggling to keep ourselves financially afloat. Luckily, many governments, banks, and investment agencies have understood the severity of the situation and have offered to give us the break we so desparately need. After all, our health and wellbeing should come first before anything else.