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Relief for commercial tenants
The Government has mandated a code of conduct for commercial tenancies to support SMEs that have been affected by COVID-19. This will be done on a good faith basis. The government is also waiving rents for all its small and medium enterprises and not-for-profit tenants within its owned and leased property across Australia.
Eligibility criteria
Small and medium-sized businesses with an annual turnover of up to $50 million. Must also be eligible for the JobKeeper payment.
What it covers
Rent reductions will be based on the tenant’s decline in turnover to ensure that the burden is shared between landlords and tenants.