A whopping 60% of businesses won’t ever open their doors again after this pandemic. That’s not a statistic you want to be a part of.
Despite that, you’re likely stuck in survival mode as a business. We’re nearly seven months into this pandemic. That means you’ve probably endured a lot of losses and had to make tough choices. Whether you’ve already let employees go or suffered significant income loss, the bills keep piling on.
As we enter into November, you’re likely wondering — how am I going to make rent again during this crisis? If you’re struggling, then we’ve got your back! Read on to learn four ways to avoid paying rent this November.
1. Let’s Make a Deal
Are you looking for advice on how to avoid paying rent? The number one thing you should do is reach out to your landlord directly.
Before you do, read through your lease. Look for any clauses that talk about emergencies or crises. If you’re lucky, there may be a stipulation regarding rent obligations during trying times.
If your lease doesn’t have an emergency-related clause, then just call your landlord. Explain your situation. Ask them directly about your options to suspend or defer rent in November. Offer solutions if you have any ideas, too. If all goes well, then you might be able to work out a deal with your landlord that helps you avoid rent.
Remember, any agreements you do reach should be finalized in writing, though.
2. Use Coronavirus Relief to Your Advantage
One of the main questions you likely have is — can you postpone rent during this pandemic? If you’re not able to reach an agreement with your landlord, then research your financial relief options NOW.
3. Crowdfunding for Rent Payments
What should you do if your landlord and relief funds aren’t viable options? Are there other ways to avoid paying rent this November? When your expenses aren’t slowing down, consider crowdfunding.
Crowdfunding helps you access financial relief immediately. If you have loyal clients and customers, then they’ll be willing to support your small business right now. Your patrons likely don’t want you to shut down, so they have an incentive to help.
Consider using the following sites to start a campaign:
After creating your campaign, start spreading the word! Share your campaign on social media websites, and ask your friends and family to do the same. Even a $5 donation can make a huge impact, especially when dozens of patrons all chip in $5.
4. Reach Out to Your Local Representative
Do you need immediate help paying rent to avoid eviction in November? Have you already exhausted your resources and alternative options for making payments? If so, then there is one last hail mary you can try.
Consider reaching out to your local or state representative and explaining your situation. Let them know how important your business is for your community. If possible, then consider networking with other struggling local business owners, too.
Together, you can approach your representative and ask for possible solutions. If this pandemic has taught us anything, it’s that we can get through this together. Your representative may already be considering commercial rent relief options considering the times. Let them know how dire the situation is, and it may prompt them into taking action.
Alternative Ways to Avoid Paying Rent this November
Do you feel your anxiety rising as the first of the month approaches? There are ways to avoid paying rent this November. There’s no reason not to take advantage of these alternatives to help make ends meet during this trying time.
Imagining small businesses post-Covid is a challenge right now. It remains unclear when and how this pandemic will come to a close. Until then, we’ve got to rely on alternative ways of getting by. Have you thought of any inventive ways to make rent? Let us know your thoughts in the comment box below!