Rent Freeze or Rent Reduction for Lawrence House Residents

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Hi Lawrence House Management/ CedarSt/ Alex

Firstly we'd like to thank the management and the staff for founding this wonderful community of residents and doing all they can during these unprecedented times. As you might very well know, a lot of us that live in the building are artists, work in the restaurant industry , in school or have start ups, this pandemic has hit us hard. Economic forecasts project an unemployment rate of 10 -20%, and many of us are facing this dire situation as of immediate, and most likely will not be able to pay next month's rent. Some experts project this condition to last for at least 5 months.

A possible solution to our predicament, is a Rent freeze OR reduction of our monthly rent. We request the management to look into this urgently. We understand the closure of amenities in our building is done as a measure to reduce the spread of Covid-19 virus, but as residents we pay a $200-$300 premium for these amenities compared to similar properties. So a reduction in rent seems reasonable. A rent freeze will also work since.The interest on the delayed payment will amount to the same according to an 24.99% APR Rate (duration of 6 mths). 

Thanks again for your consideration and will look forward to your response.

Sincerely

The current residents of Lawrence House.