WeWork Threatens Legal Action if Hundreds of Tenants don't Pay Up

October 28, 2020
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Earlier in the year, WeWork compromised with its tenants who were struck financially by quarantine and other problems that arose from the pandemic. Unlike most commercial real estate lease providers, tenants sign membership agreements. Within those agreements, WeWork can put in its own rules and regulations as a loophole around protection against eviction. 

Now, WeWork has sent out notices to tenants that have yet to settle rent debt, saying pay up or get out. 

Companies everywhere have been continuously trying to cut costs where they can. When it comes to WeWork members, that has only spelled trouble for the already ill-fated flexible workspace aggregator. In fact, WeWork cut expenses down by 80% since the pandemic and its membership has dropped over 81,000. 

According to sources, most of the tenants who were issued these notices from WeWork were small businesses under 50 employees. If these members continue to withhold rent payments, WeWork has promised to take legal action, working with Raunch-Milliken International to collect the debt.

October 28, 2020
Victoria has been writing about property portals and marketplace sites for Online Marketplaces for over 3 years. She is also our resident artist and is responsible for all of the infographic content on the site.

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