LAS VEGAS (KLAS) — While the COVID-19 pandemic has caused financial problems for Las Vegas industries, some businesses are doing better than expected. It turns out understanding and compromise between tenants and landlords is what is helping keep businesses afloat.
“There’s been some challenges, but it’s also been great,” said Rhonda Langager, owner of a local Menchie’s Frozen Yogurt location.
Langager opened Menchie’s Frozen Yogurt in the midst of the pandemic.
While covid-19 caused some delays and pushed their opening date back six weeks, they were still able to open their doors to the growing Skye Canyon community.
“I think it’s inspiring,” Langager said. “People are trying to move forward with plans, and take that risk and jump into this ‘I think we can do this.”
The Commercial Alliance of Las Vegas says many expected a wave of vacancies once the commercial eviction moratorium was lifted on July 1, but that hasn’t necessarily been the case.
“We continue to see landlords and tenants working together,” said Jennifer Ott, the past president for Commercial Alliance of Las Vegas. “Even lenders [are] working with their landlords to kind of keep things going.”
Ott says these negotiations are saving time and money for everyone involved.
“If you can help them get through a tough time, then they can continue to help you as a landlord and pay something or work out an arrangement that’s mutually beneficial,” Ott said.
Working out an arrangement was exactly the case for Pamela Billow with Marco’s Pizza. She worked directly with the landlord of her property in the southwest, as well as another location under construction.
Billow encourages businesses to keep communication open, saying landlords don’t want a vacancy anymore than a business wants to move out.
“Just work with them; be open and be transparent; share your financials with them if you have to,” Billow said. “Show them the hardships you’re experiencing and come up with a creative solution.”
Ott recommends businesses get creative and figure out where they can cut costs. That way, if there is a dip in sales, they can still remain profitable.