What Is the Impact of Nonresidential Rent Deferrals on Bankruptcy Filings?

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The CARES Act dovetails with nonresidential rent deferrals. The idea here is that if the person who owns the non-residential property has tenants and those tenants aren’t paying because of mortgage forbearance, then it gives some forbearance to the owner of the non-residential property, who presumably has a mortgage against the property. It also helps in cases where there are no tenants currently because of business closures due to the COVID-19 pandemic. Rent deferrals give relief to the owner of the building.

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