Everything you need to know about renting
How is the Government supporting people who pay rent and are being negatively affected by COVID-19?
The Prime Minister has announced new support for renters. Evictions are being put on hold for the next 6 months. This applies to both residential and commercial tenancies who are in financial distress and unable to meet their commitments because of the impact of COVID-19.
A set of principles have been agreed across all states and territories. Strategies and policies will be implemented to support this in the near future.
The principles are:
- A short-term freeze on eviction for non-payment of rent that will apply to commercial tenancies impacted severely by COVID-19.
- Residential and commercial tenants, landlords and managing agents are being asked to discuss their individual circumstances and agree different arrangements if this is needed.
- A reduction or waiver of rental payments for a defined amount of time for impacted tenants.
-Tenants to have the ability to terminate their lease and / or seek mediation or resolution on the grounds of financial stress.
- People who own commercial properties should ensure that if they receive any benefits, these should also benefit their tenants in a way that reflects the negative impact caused by the Coronavirus.
- If you or your landlord aren’t significantly affected by the Coronavirus, you are expected to honour your lease and rental agreements.
The government is exploring cost sharing or deferring losses between landlords and tenants, and how local, state and federal governments can help.
Right now, commercial tenants, landlords and businesses are encouraged to talk about short term agreements.
More information about this will be available soon.
This information has been adapted from the NSW Department of Fair Trading and The Australian Government’s Business Website.