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Measuring the impact
of COVID-19 across
U.S. office buildings

JLL property management rent relief benchmark analysis

The economic slowdown related to COVID-19 is unprecedented. It happened fast, with unemployment rates rising to historic levels over a matter of weeks. The planned stay at home orders impacted all sectors – although some felt in more quickly and acutely.

JLL’s office property management team gathered rent relief requests from office and non-office tenants that are proactively searching for ways to manage and conserve their financial resources. As the pandemic unfolded, rent relief requests mounted from March 6, 2020 to April 3, 2020, until slowly tapering off.

This report looks at data from across the U.S. between the beginning of the COVID-19 pandemic through May 12, 2020. The review covered a subset of our office property management portfolio including 620 properties and 8,500 plus tenants.

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