We know a lot of our friends with commercial and retail leases are doing it tough – whether that’s because they’re running on reduced capacity, or their businesses are currently shut – however, there is finally some rental relief reprieve from state governments in addition to the rental relief measures in place from last year.
The NSW and VIC governments have just released updated Regulations which allow each business on a commercial or retail lease to seek rental relief from their landlord.
To help you kick start these conversations with your landlord, our friends at Law Squared have once again created some free resources which will provide guidance on the arrangements you can come to with your landlord given the difficult economic times caused by COVID-19.
- Rental Relief Fact Sheet and Letter to Landlord (Victoria): Given the substantial differences between the 2020 Regulations and the recent Regulations, the Law Squared Fact Sheet provides great insights on the differences. You can then utilise the template letter which should form the basis of your rental relief request with your landlord. There are a series of input fields and comments throughout the letter to assist you in customising the letter for your business/leasing needs.
- Rental Relief Calculator (Victoria): The Regulations outlines a number of tests to be applied to determine the rent waiver and deferral amounts. Law Squared have created a calculator to assist you in determining the relevant amounts.
- Rental Relief Letter to Landlord (New South Wales): You can then utilise the template letter which should form the basis of your rental relief request with your landlord. There are a series of input fields and comments throughout the letter to assist you in customising the letter for your business/leasing needs.
These resources are now available for free through the Law Squared website.
If you have any queries related to the rental relief resources, please do not hesitate to reach out to Law Squared Founder, Demetrio Zema (firstname.lastname@example.org) or a member of the Law Squared team. They are more than happy to assist you during these unprecedented times.