Attention: Cresa Ottawa COVID-19 Initiative
These are unprecedented times, and we want to help. Cresa Ottawa is offering to support your rent abatement discussion with your landlord. We're not seeking any compensation for this effort, nor are we suggesting that the landlord will simply gift any relief provided. We have several strategies we are employing to achieve this, and depending on your situation and that of your landlord, we expect to be able to arrange a period of lower rent, or no rent whatsoever. The rent relief may represent anywhere from between 1 and 3 months. We hope that our ability to work with your landlord to support you in this effort will contribute to your ability to get through this crisis smoothly. Let us assist with this effort so you can focus on other pressing matters.
Our team is fully engaged working out of their home offices and ready to assist. Please call us at 613 688 7200 before April 3rd or fill in the form below if you are interested, so we can discuss your situation.
We know things will get better in time.
5 Key Actions Leaders Can Take To Mitigate The Effects of COVID-19
Cresa is the world’s most trusted occupier-centric commercial real estate firm. We exclusively represent commercial tenants and solely focus on finding the best office space that drives superior results for your business.
March 18, 2020
In the face of a global crisis, well prepared businesses can help protect their staff and their bottom lines.
Business leaders see managing a crisis as an inevitable part of their role. And this COVID-19 crisis will for sure test most of them to the limit, as this outbreak is exceptional by any standards. Preparation is always key to managing any crisis. It's important for business leaders to not only set things right at the moment but also plan ahead. Here are 5 practices that we believe leaders should implement during this outbreak to ensure their organization is in the best shape possible to withstand what’s ahead.
Revisit your crisis and continuity plans
We believe every well-run business has a crisis or continuity plan. But it's also apparent that nothing tests theory quite like reality. Generic programs need to be adapted and tailored to cope with the specific challenges of a pandemic. For example, many businesses suggest their employees work remotely at home, but the question here is that: is there enough technology bandwidth to cope? How will communication with employees be managed? How will data flow during this crisis? All these questions need to be reviewed carefully by the business leaders, and ensure every issue has a solution.
Evaluate the supply chain
Do you have a clear sight of your business' supply chain? Apparently, having a clear understanding of your supply chain will help to expose any potential vulnerabilities. This means beginning with the most critical products and looking well beyond first- and second-tier suppliers, right down to the raw materials, if possible.
Get communication right
Many employers are trying so hard to keep their employees well-informed; however, the media frenzy may be amping up our fears, and disinformation and confusion have spread along with the virus. It is also the business leaders' duty to bring reassurance to your workforce. What they need to know is that they are being protected and that the business is prepared. Consistency and accuracy of messaging is the key, as is reassurance from the top of the organization; your workforce will need to know that their welfare is paramount.
Use scenario analysis
With uncertainty rife, and COVID-19 holding the potential to impact every part of a business for months, scenario planning is a critical tool to test preparedness. What are the best- and worst-case scenarios, and is the business equipped to cope? What could be the impact in the longer term? Sectors like hotel and hospitality experience a sharp fall in demand - are they prepared for this, and what is their Plan B?
Never lose sight of other risks
COVID-19 isn’t the only threat on the horizon — and often organizations are at their most vulnerable state when dealing with a crisis that dominates their attention. The many other risks that your business faces aren’t diminished by a pandemic. Lease expiration, for example, should be one thing to keep in mind.
Wondering how COVID-19 can impact your businesses's real estate? At this time you need an expert on your side who will guide you step by step through your options. Get in touch with one of our brokers today.