Built To Grow

In this episode, Tim and Randy will be joined by Adam Trenk, an attorney and partner at Rose Law Group based out of Scottsdale, Arizona. Adam represents both tenants and landlords in a lot of cases and is going to talk about landlord lease agreements especially in the context of all the changes that have been going on in the gym ownership community due to the COVID-19 pandemic. Tim and Randy invited him over to the show to help gym owners navigate the uncharted waters they’re in right now, so they can hopefully get out of this ahead.Adam is already working with gym owners, and he recently negotiated on a gym owner’s behalf with their landlord to get them a smooth deal for their gym. He got a three-month moratorium on rent payments and an agreement that the lease would then be extended by three months, and the landlord also agreed to waive some of the common area maintenance charges and reduce the base rent for the next 12 months once the gym owner restarts rent payments. That may turn out to be a smoking deal