A landlord with properties on Lower Greenville and Deep Ellum is giving its tenants a break on rent as social distancing practices negatively impact businesses in the food industry.
Madison Partners took action after a handful of worried small-business owners approached the company last week, the Dallas Observer reported.
“For the most part, we’re telling tenants, ‘Don’t freak out about rent in April,’” Madison Partners’ Jon Hetzel told the Observer.
Although the company manages a variety of businesses, it tailored its new rent policy to food and beverage establishments, such as Rapscallion on Lowest Greenville.
“Generally, it involves a significant component of rent deferment for the time being for bars and restaurants, and the willingness to determine what any payback or potential abatement would look like after we get a better sense of the impact we have on our business,” Hetzel told the publication. “We’re being more generous with the bars that have to fully close.”
