In this article, you'll learn:

• What a blend & extend strategy is and how it benefits both parties
• How this strategy provides short-term rent relief for a longer lease commitment
• Why landlords favor blend & extend to reduce vacancy risks
• How tenants can negotiate better lease terms by blend & extend during COVID-19

COVID-19's impacts on the economy are affecting most businesses. While there are a few winners, many companies find themselves facing reduced revenues and an uncertain future. Some costs -- like travel and staffing -- can be cut relatively quickly. Others -- like those represented by long-term contracts like real estate leases -- are harder to trim. However, because many landlords understand the challenge that their tenants face -- and don't necessarily want to create a long-term hit to their building for what is hopefully a short-term problem -- a blend-and-extend strategy might allow you to better manage your real estate expenditures.