Last week, Krause Group Real Estate informed all 189 residential tenants of its six properties in Des Moines that they would be waiving rent – a total of $130,000 – for the month of May.
“No one has been left untouched by the impact of COVID-19,” said Krause Group Chairman and CEO, Kyle J. Krause. “We always want to make sure we’re showing up for our tenants and our community. I hope this can help alleviate some of the financial burden they might be experiencing during this uncertain time.”
Amidst COVID-19, Krause Group Real Estate is focusing renewed efforts on the health and safety of its tenants. The company has implemented heightened protocols for cleaning and sanitizing, and rolled out rent relief programs offering up to three months of rent deferral for commercial and one month for residential tenants with interest-free payments. Finally, all late fees, penalties and evictions have also been suspended until further notice.
About Krause Group Real Estate
Krause Group Real Estate is part of Krause Group, an Iowa-based parent company to a diverse set of businesses that also includes immediate consumption, logistics, wineries, hospitality, agriculture, and soccer.
This article was originally published on April 30, 2020, on the Greater Des Moines Partnership blog.
