3385511 m 300x225 - Rent relief extended for small business owners

Small business owners can now seek rent relief until 13 March 2022.

Small businesses affected by COVID-19 will be able to seek rent relief until 13 March 2022.

The Retail and Other Commercial Leases (COVID-19) Regulation 2022 rent relief provisions will continue for eligible businesses with a turnover of less than $5 million.

The regulations require landlords to negotiate rent relief with eligible commercial and retail tenants that are experiencing a turnover decline of 30 per cent or more or would have met the eligibility criteria for Jobsaver or the Microbusiness grant.

Rent relief should be proportionate with eligible tenant’s decline in turnover, with at least 50 per cent in the form a waiver, and the balance a deferral.

Landlords can access the Commercial Landlord Hardship Fund, which currently provides small commercial or retail landlords with a monthly grant up to the value of any rental relief provided, to a maximum of $3,000 per month per property.

This post was originally published on this site

  • Popular Searches
  • Hide Searches