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California Senate Bill 939 Update:



California Senate Bill 939 Update:  At a hearing on Friday, May 22, 2020, the Senate Judiciary Committee voted on SB 939 (as amended on May 13, 2020). If passed, SB 939 would allow certain commercial businesses to open negotiations for revised lease terms such as withholding rent for more then a year and allow those same commercial businesses the ability to terminate their leases without liability. In addition, if tenant/landlord negotiations fall through, SB 939’s proposal is largely one-sided and ultimately leaves property owners no remedies and limits remaining solutions for property owners to fulfill their own financial obligations.  After the Covid-19 lockdowns and quarantines, SB 939 will have a significant impact on the state’s business landscape and overall economy. The latest hearing was held on June 8, 2020 in front of the Senate Appropriations Committee and we are waiting their decision.   If you are interested in expressing your opinion regarding SB 939 and how it may impact your business/property, please follow this link:

https://p2a.co/0NAR5Pr



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The information above has been obtained from sources deemed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for illustration only and do not represent the current or future performance of the property.