24 April 2020 - Victor Constantinescu, Managing Partner of Kinstellar's Bucharest office and Co-head of the firm-wide Real Estate sector, participated as a speaker in an online panel discussion focusing on the leasing issues landlords and tenants are currently facing due to the lockdown imposed by the COVID-19 pandemic. The "Leasing issues under the lockdown" online panel took place on 23 April and was organised by Property Forum Events, a leading event hub in the CEE real estate industry with nearly 10 years of experience.
Victor was invited to analyse implications of the crisis and shed light on potential solutions together with other exceptional panellists made up of landlords, tenants, legal advisors and industry experts: Alexandru Atanasiu (Colliers International), Ana Dumitrache (CTP), David Hay (ADD Value Management), Mihai Păduroiu (One United Properties), Muler Onofrei (Element Industrial) and Răzvan Gheorghiu-Testa (Țuca Zbârcea și Asociații).
Key questions addressed to the panel members included:
- "How has COVID-19 impacted the Romanian property market so far?"
- "How are different asset classes impacted by the crisis?"
- "What are the current legal actions available for tenants not able to pay rent?"
- "What are the current legal actions available for landlords with missed rental revenues?"
- "What kind of legislative response can be expected from the government?"
- "How should future lease agreements prepare for unprecedented situations like this?"
- "Will this crisis accelerate the adaptation of technology in the development/leasing/selling process?"
Victor adds: "The applicable law will only go so far in resolving matters between landlords and tenants; the difficult part for landlords is determining what is fair, and who really needs help and who doesn't."
