The State Government has elected to extend COVID-19 rent relief provisions for eligible commercial tenants to 28 March 2021.
This sparks welcome relief for tenants that continue to suffer adverse effects of the COVID-19 pandemic on their business but has equally been considered a hindrance to landlords looking forward to ‘business as usual’ in 2021.
Under the original provisions of the COVID-19 Omnibus (Emergency Measures) Act 2020 and the COVID-19 Omnibus (Emergency Measures)(Commercial Leases and Licences) Regulations 2020, eligible tenants were provided rent relief up to the end of 2020, a date that was initially extended from the end of September 2020.
Critically, tenants must re-apply to their landlord for rent relief in 2021. Tenants that are under the erroneous assumption that the relief continues automatically are set to miss out on rent relief from 1 January 2021 to whenever they make a fresh request this year. Depending on the rent amount of the tenancy, the relief could be significant.
If you continue to be an eligible tenant, you should apply immediately for rent relief if you have not already done so. Equally, landlords, be aware of your rights to demand full rent and outgoings in this year until the tenant has provided you with adequate notice under the legislation.
As the devastating effects of the COVID-19 pandemic continue, it is critical that you understand your rights as either a landlord or a tenant in the commercial setting. Our commercial and property teams at Burke & Associates Lawyers have experience acting for both Landlords and Tenants in these arrangements and we welcome the opportunity to assist you in this regard.
If you have any questions on the above information or you require assistance, please do not hesitate to contact our Commercial and Property Teams at Burke & Associates Lawyers. We would welcome the opportunity to assist you.
Insight written by Stewart Davis