Impact of COVID-19 on Financial Reporting in the Real Estate Industry

CRE owners need to consider collectability of rent payments and lease concessions in their financial reporting.

As the third quarter comes to a close, the impact of COVID-19 on the U.S. economy continues to be felt. In fact, according to Reuters, the U.S economy suffered its biggest blow since the Great Depression in the second quarter of 2020. In addition, many feel a resurgence of the coronavirus is just ahead of us.

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