The Commercial Tenancy Relief Scheme (“2021 Scheme”) has been introduced by the Victorian Government to help ease the financial hardship caused by the COVID-19 Pandemic for commercial tenants.
Like the 2020 Scheme the aim is to encourage tenants and landlord to negotiate in good faith to reach an agreement as to rent relief, the big differences are that this Scheme will provide support to landlord who provide rent relief to their tenants and includes mandatory reassessment for the parties to check whether rent relief should be adjusted due to changed circumstances.
Applications must be submitted before 30 September 2021 and can request rent relief back to 28 July 2021.
The Victorian Small Business Commission has an excellent list of FAQs which provide valuable details of the Scheme. See link to the VSBC FAQs and a useful table setting out Comparison & Turnover periods.
If you require assistance with a lease (as either a landlord or a tenant) during this difficult time, please contact Fleur Craig of Armour-Craig Legal on (03) 5636 4986 or fleur@armourcraiglegal.com.au.