by kleinbl00

Dueling news articles put forth by the WSJ's commercial real estate report this morning:

Advocates, officials try to prevent Philly’s coming wave of coronavirus evictions

At a news conference last week, Councilmember Kendra Brooks called the proposals “humane protections to keep people in their homes during this unprecedented public health crisis.”

Garland noted that these are measures “that frankly most good landlords are doing.” But others, she said, are illegally locking out tenants, charging “exorbitant” late fees, and threatening to call U.S. Immigration and Customs Enforcement.

The Reinvestment Fund report also highlights the importance of legal representation for both tenants and landlords and finds better outcomes for both parties when all know their rights and responsibilities. In line with most legal proceedings, tenants who bring lawyers to eviction negotiations tend to get better deals, including being allowed to leave a unit without owing more money or entering an installment plan instead of owing a lump sum.

But nearly two in three tenants do not have an attorney when entering into agreements with landlords without a judge’s participation.

But wait! The Wall Street Journal to the rescue!

Fixed Rent Payments Could Be the Latest Pandemic Victim

LOL J/K that's if you're a publicly-traded retailer

A number of retailers are already asking landlords to waive some of their rent in return for a share of future revenues. Ross Stores Inc. said last month that it would pay a rent equivalent to 2% of sales when its stores reopen. Guesst, a New York-based technology company, recently launched software to help retailers and landlords manage revenue-sharing arrangements.

Co-working giant WeWork, which had been looking to switch to more revenue-sharing arrangements before the pandemic, has accelerated the shift over the past month and hired two brokerage firms to renegotiate its real-estate deals. Some apartment-hotel operators, suffering from a downturn in tourism, are also looking to lower their real-estate bills and are willing to grant property owners a share of their profits in return.

Lease alternatives can come in many forms. Some firms sign deals that include a few years of revenue sharing upfront, followed by a period of fixed rent payments. Other deals include a low monthly rent, topped off by a share of revenue. Still others include no rent at all.

Average rent, Philadelphia: $1652/mo

Average salary, Philadelphia: $5666/mo

2% of average salary "revenue:" $113/mo

Go ahead and try revenue sharing with your landlord. See how well it works without a $32b market cap.