COVID-19 QLD: Business – Coronavirus (COVID-19) Support for Commercial Landlords
OverviewThis program aims to support commercial landlords who own a commercial property to help them manage their leasing arrangements with their tenants who are small to medium sized businesses affected by coronavirus (COVID-19).
Government and banking support provided for landlords is conditional upon them passing on the benefits to their tenants, through rent reductions or relaxing of tenants' obligations. They will need to negotiate with their tenant to make the necessary changes to their leasing arrangements.
The Queensland Government has introduced regulations under the COVID-19 Emergency Response Act 2020, in response to the mandatory Code of Conduct for Commercial Leasing released by the Australian Government.
The regulations guide landlords and tenants affected by COVID-19 in their negotiations for temporary changes to leasing arrangements.
Landowners may be eligible for land tax relief. If they receive this benefit, they must pass it on to their tenant in the form of rent relief.
Landlords may be eligible to have their loan repayments deferred by their bank. A condition of the deferral is that they cannot terminate their tenant's lease or evict them for rent arrears as a result of COVID-19.
Please visit the website for more information.
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