Following the announcement of the Federal Government’s intention to implement a rental relief code of conduct to support landlords and tenants during the coronavirus crisis, state governments have begun to introduce measures to help. Here’s what these packages entail for businesses around the country.
Under a new $440 million relief scheme, NSW commercial tenants impacted by COVID-19 will have greater protection from evictions and the opportunity to negotiate reduced rents with landlords. The scheme will be available to businesses that have lost at least 30% of their revenue as a result of the pandemic.
The government has said it will enforce a temporary code of conduct, which will include the following measures:
It also includes land tax discounts for landlords who provide rental relief to their tenants over the next three months.
The scheme has yet to take effect but the NSW Government has said it aims to pass legislation as soon as possible.
The Queensland Government has committed over $400 million to support landlords and tenants affected by COVID-19.
As part of the relief package, the government will provide a discount of up to 25% on land tax to landlords. Savings must be passed on to tenants in the form of rent relief.
This means if you’re a commercial tenant in Queensland and your landlord is eligible for land tax relief, you can negotiate a rent reduction or rent holiday for up to three months.
Find out more about the Queensland government’s support for landlords and tenants.
The Victorian Government has said it is working towards assistance measures to help landlords and tenants during the COVID-19 pandemic.
Although no legislation has been passed yet, it’s expected there will be a moratorium on evictions for six months for businesses that are struggling to pay rent. Landlords are also encouraged to provide rent relief or holidays to businesses in financial distress.
The Victorian Government has also introduced a $500 million Business Support Fund to support small businesses in hard-hit sectors. Eligible businesses can apply for a one-off $10,000 grant, which can be used towards costs such as rent.
Find out more about the Victorian Business Support Fund.
The WA Government is in the process of passing legislation to support commercial and residential tenancies. The state’s Residential Tenancies (COVID-19 Response) Bill 2020 will introduce:
Find out more about support for commercial and residential tenants and landlords in Western Australia.
The Tasmanian Government has introduced the COVID-19 Disease (Emergency Provisions) Act 2020, which includes protection for both commercial and residential tenants.
The Act includes:
Additionally, the Tasmanian government has introduced various grants to support small businesses impacted by the pandemic. This includes a one-off Small Business Emergency Support Grant of $2,500 available to small businesses in significantly impacted industries.
Find out more about the Tasmania Government’s COVID-19 rent relief, grants and loans.
The ACT Government has said it will introduce a scheme that provides relief for business tenants and owner-operated commercial properties.
Support levels will be based on need, in line with the following categories:
Details regarding what support will look like have not yet been clarified, but the ACT Government is urging landlords and tenants to work together to reach an agreement that allows the business to bounce back when the time is right.
Stay up-to-date on commercial tenancy relief in the ACT.
At the time of writing, the SA and NT Governments are still in discussions as to how they will help local commercial tenants and landlords. We will update this page with this information when it becomes available.