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Landlords forced to 'carry the can' following Victoria's lockdown - Smart Property Investment

Landlords forced to ‘carry the can’ following Victoria’s lockdown
By Cameron Micallef
02 August 2021
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1 minute read
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As the state re-emerges from strict lockdowns, Victorian landlords are being asked to “carry the can” for struggling businesses, an industry expert has revealed.
The Property Council has called on the Victorian government to rethink its commercial tenancy relief schemes, as it imposes an “unfair and costly” burden on the property sector.
Victoria has announced it is easing some restrictions, albeit businesses will be hamstrung as to how many customers they will be allowed to have at any given time.
As such, the government announced on 28 July that Victoria will require commercial landlords to chip in and match the tenant’s fall in income with their own rent relief. ....

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COVID-19 lockdowns: A state-by-state guide to commercial rent relief

COVID-19 lockdowns: A state-by-state guide to commercial rent relief
Source: Unsplash.
State governments have announced new rent relief measures for commercial tenancies as businesses emerge from lockdown in Victoria and remain under tight restrictions in Sydney.
Last year, the National Cabinet’s leasing code of conduct was established to set up protections for SMEs and a process for rent relief negotiations between commercial landlords and tenants while the JobKeeper program was in force.
This year, business support during periods of COVID-19 restrictions is different, with state governments deciding on their own measures.
SmartCompany has made a list of what support is available in each state. ....

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Victorian Business Support Package

Prime Minister
A new jointly funded package from the Commonwealth and Victorian Governments will give Victorian small and medium businesses the extra support and confidence they need to recover from the recent lockdown.
The new Victorian Business Support Package will deliver an additional $400 million in support to thousands of businesses, with funding to be split 50/50 between the Commonwealth and Victorian Government.
The package includes a new $85 million Small Business COVID Hardship Fund and $156 million Business Continuity Fund, as well as delivering support for commercial tenants and landlords.
It will also build on Victorian Government support for licenced hospitality and alpine venues, with $70 million for the Licensed Hospitality Venue Fund 2021 and $9.8 million for Alpine Business Support. ....

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