German government leaves commercial landlords at the mercy of an economic meltdown
The German government has left commercial landlords at the mercy of a deep recession with its series of economic stabilization funds.
Although strong measures have been put in place to protect tenants during the sharp downturn caused by the novel coronavirus pandemic, German law firm Bottermann Khorrami has criticized the Bundestag for ignoring the needs of landlords.
Under the new legislative package, landlords have been prevented from terminating rental contracts for residential and commercial premises due to COVID-19-related payment arrears. German lawmakers have also suspended failing companies from having to file for insolvency or pay creditors until Sept. 30, 2020. The measures are intended to protect companies and tenants of residential and commercial premises that are temporarily insolvent due to the social movement restrictions associated with the coronavirus pand