COVID-19 – Moratorium on Rent Payments for Commercial and Retail Leases

Commercial Real Estate and Projects

minutes reading time

DATE PUBLISHED: March 30, 2020

COVID-19 – MORATORIUM ON RENT PAYMENTS FOR COMMERCIAL AND RETAIL LEASES

With the Prime Minister’s comments overnight that some form of payment moratorium will be imposed in the coming days on commercial and retail leases to assist tenants affected by the Corona Virus outbreak, the Government’s recommendation is that landlords, tenants and their banks ‘sit down’ and talk to each other about suitable arrangements in the first instance.

Any arrangement dealing with either rent forbearance or rent free periods granted by landlords to tenants should be documented by written variation to the lease terms.


HOW WE CAN HELP

We are well placed to assist landlords and tenants in negotiating the terms of any rent forbearance or rent free period granted during the period of the COVID-19 outbreak and to prepare the required documentation to ensure the parties’ rights are protected.

PLEASE CONTACT US TO DISCUSS STARTING THE PROCESS.

Related INSIGHTS


November 11, 2021

Real Estate and Projects

A Pocket Guide to Completing a Property Occupations Form 6
Update on Lease Negotiations Under COVID-19 – Queensland Retail and Commercial Leases – Extension of Relief Period
COVID-19: What Is the Landlord’s Position When Residential Tenants Don’t Pay Rent?
Rent Negotiations Under COVID-19 – Queensland Retail and Commercial Leases

April 17, 2020

Commercial Real Estate and Projects

COVID-19: Details on the “Immediate and Temporary” FIRB Changes

April 8, 2020

Commercial Real Estate and Projects

National Cabinet Mandatory Leasing Code of Conduct

March 31, 2020

Commercial Real Estate and Projects

COVID-19 And Leasing

March 30, 2020

Commercial Real Estate and Projects

Landlords and Tenants – Navigating Through the Coronavirus Pandemic