RENT RELIEF DURING COVID-19 - THE NEW REGULATIONS

On 28 May 2020 the Retail Shop Leases and Other Commercial Leases (COVID-19 Emergency Response) Regulation 2020 (Regulations)  came into force which was made under the COVID-19 Emergency Response Act 2020 (Act). These regulations now provide relief to tenants who are subject to an "affected lease". An "affected lease" is a retail shop lease or a lease for carrying on business, the lease is binding on the tenant as at 28 May 2020, the tenant is a SME with a turnover of less than $50M for the 2019/2020 financial year and the business was  / is eligible for the jobkeeper payment scheme.  The relief provides that the landlord cannot take any prescribed action against a tenant during the period 29 March 2020 to 30 September 2020 for unpaid rent and other matters. If you are a business and qualify as having an affected lease, you should immediately advise your landlord, or their representative that you are eligible for jobkeeper and you are aware of the new regulations coming into force. If you require any assistance with this please give us a call. We are here to help.



Posted By despina-priala
Despina Priala has practised in property and commercial law on the Gold Coast for over 25 years and has extensive experience in this area.

Updated : 14th June 2020 | Words : 183 | Views : 28

RSS Twitter Facebook