The NSW Government has introduced grants for small landlords who have reduced rent for their tenants affected by the COVID-19 lockdown. The Commercial Landlord Hardship Fund provides grants of up to $3,000.00 per month for each commercial or retail lease for small landlords who are experiencing hardships as a result of reducing rent for their tenants.
Here is a very short summary of the eligibility criteria for this grant for landlords:
Rent relief is available for tenants with a turnover of up to $50 million who qualify for the COVID-19 Microbusiness grant, COVID-19 Business Grant or JobSaver Payment.
It is important that you talk to your tenants and negotiations should continue around relief that should be offered in line with Retail and Other Commercial Leases (COVID-19) Regulation 2021. This will continue until the end of the current specified timeframe (13 July 2021 to 13 January 2022).
If you are a landlord or tenant and you want to know more about rent relief or the grants available to you, please get in touch with us.
For further information on the Commercial Landlord Hardship Fund and to apply through Service NSW, click here.
– Catherine Stojcevska