While we are now nearly 3 months into the shutdowns and practices are now more fully opened, the path forward still remains unclear. Will patient volume decrease, will more closures occur in the coming months or year, will my receivables increase? These are some of the common questions that dentists are currently grappling with on a daily basis.
As a profession, you are not used to requesting forbearance, abatement, or other financial assistance but these conditions are unprecedented and you should give full consideration of your options. Landlords are widely granting tenants opportunities to adjust rent payments to assist with the current unpredictability of cash flow.
Landlords are widely granting tenants opportunities to adjust rent payments to assist with the current unpredictability of cash flow.
Notwithstanding your existing cash flow and operating circumstances, we are able to assist dentists with rent forbearance agreements and deferment requests. In doing so, some landlords may seek releases of claims or other concessions from you as tenant. It is important that you are keen to any subtleties being proposed and counter those as appropriate. Fortunately, landlords are highly motivated to keep reliable tenants, like dentists, in their buildings and you will likely have a strong position to obtain relief.