17 April 2020 | VSBC
On 15 April 2020, the Victorian Government announced details of a commercial tenancy relief scheme to alleviate financial hardship faced by tenants and landlords as a result of coronavirus (COVID-19). For commercial tenants and landlords, the scheme will provide the following support:
- a six-month moratorium on commercial tenancy evictions for the non-payment of rent for small to medium enterprises with an annual turnover under $50 million that have experienced a minimum 30 per cent reduction in turnover due to coronavirus (COVID-19), commencing from 29 March 2020
- a freeze on rent increases during the moratorium for commercial tenants
- a rental payment waiver or deferral proportionate to commercial tenants’ income reduction due to coronavirus (COVID-19), to be negotiated between the tenant and landlord
- a mediation service for commercial tenants and landlords to support fair tenancy negotiations.