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Rent Relief for Victorian Businesses with Commercial Leases affected by COVID
If you are in Victoria and have a Commercial Lease and your business has been affected by COVID Lockdowns then you can apply for Rent Relief.
So long as you complete the Rent Relief Application you will receive a proportional reduction in your rent pro-rata to the reduction in your business turnover over the period demonstrated by BAS Statements or other accounting methods.
It is vital that this application for rent relief is completed and compliant with the legislative requirements and so long as you do that the landlord MUST :
It is vital that this application for rent relief is completed and compliant with the legislative requirements and so long as you do that the landlord MUST :
- Grant a reduction in the rent proportional to the decrease in turnover eg: Turnover dropped 70% means a 70% reduction in the rent.
- From that 70% Reduction in Rent 50% of it must be waived by the landlord altogether and the remaining 50% is on a deffered payment.
- The Victorian Small Business Commissioner is authorized by the Legislation to make a binding order on parties who do not participate in the process.
For more information visit the Victorian Small Business Commission website.
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