A bankruptcy attorney in Santa Clarita is weighing in on how the coronavirus pandemic seems to be affecting those who are renting commercial property.
Louis Esbin of The Law Offices of Louis J. Esbin noted that he’s seen many business owners who were renting office space prior to the pandemic re-evaluate their situation now that their employees are utilizing technology to work from home.
“I was talking to someone the other day who says that they’ve got everyone working from home, and it’s given them the opportunity to evaluate which of their employees are productive and which ones aren’t,” Esbin said, noting that non-productive employees can be laid off. “Once the business decides that they can run substantially other than in an office space, well then they’re looking at a completely different set of budget line items.”
By having fewer employees and ending their office space lease, businesses may actually be more profitable now than before the pandemic, and as a result, may not return to renting commercial property once the pandemic ends, according to Esbin.
“I think there’s going to be a lot of businesses that have commercial space, especially where they’ve got office space, who may decide that they’re not going to go back or they’re going to pare down,” Esbin said.
For example, Esbin recently spoke to a group that was planning to add 1,000 square feet to the commercial property they were renting prior to the pandemic. However, they have since decided to instead cut their rental space by 500 feet, thanks in large part to what technology has enabled their employees to do remotely.
“If people embrace the 21st century on a personal, business and government level, I think we can come out of this a lot stronger.” Esbin said.
As far as the government embracing technology, Esbin added, “If elected officials or bureaucrats don’t know the difference between a ‘bagel bite’ and a ‘gigabyte,’ it’s time for them to retire and move on.”
Ed. Note: This article is a KHTS Community Spotlight for the Law Offices of Louis J. Esbin.
Louis Esbin of the Law Offices of Louis J. Esbin is an attorney in Santa Clarita who specializes in bankruptcy law, business law and consumer protection. The motto of his firm is, “When experience counts, count on experience,” and Esbin has been practicing law locally since 1993. His experience in Los Angeles, San Francisco and New York also enables him to pledge to provide his clients with high quality, big-city legal services as a Santa Clarita attorney. In addition, the bankruptcy attorney in Santa Clarita is founding treasurer of the Santa Clarita Valley Bar Association, a founding member of the Central District Consumer Bankruptcy Attorneys Association and a member of the Financial Lawyers Conference and California Bankruptcy Forum. Those searching for the best attorney in Santa Clarita or an “attorney near me,” can contact the Law Offices of Louis J. Esbin today for more information.
The Law Offices of Louis J. Esbin
27451 Tourney Road, Suite 120
Valencia, CA 91355-6304
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