Changes to the commercial tenancy relief scheme
The Victorian Government has announced changes to its commercial tenancy relief scheme in response to the coronavirus pandemic.
These changes include:
- The existing prohibition on commercial tenancy evictions and rent increases has been extended from 29 September 2020 until 31 December 2020.
- It has been announced that the Victorian Small Business Commission (that currently oversees mediations relating to requests for rent relief) will have a greater capacity to make an order on rent relief if the landlord refuses. There are currently no details of what this ‘greater capacity’ will look like.
- A commercial landlord may be required to offer a rent reduction that is proportionate to a tenant’s reduced turnover.
- There is a new $60 million fund to support small commercial landlords. These landlord’s may be eligible for a payment of up to $3000 per tenancy.
- Land tax relief for eligible commercial landlord’s that are participating in rent relief agreements has doubled from a 25 per cent to 50 per cent.
We can expect amendments to the current legislation governing the commercial tenancy relief scheme and that specific details will be available shortly.
Aitken Partners is committed to assisting you during this period We will remain accessible throughout the pandemic. If you need legal help please contact our Accredited Specialist in Commercial Tenancy Law, Sarah Ward on (03) 8600 6056 or email@example.com