As a result of NSW and especially Sydney being placed into lockdown in recent weeks, the State Government has now reintroduced the Mandatory Code of Conduct for Commercial Leasing to provide rent relief for eligible retail and commercial tenants impacted by COVID-19 and will apply until 13 January 2022.
But this time, small landlords, who rely primarily on rent and give rent relief, will also be entitled to a monthly grant of up to $3000.00.
As before, landlords will be required to give rent relief in proportion to their tenant’s decline in turnover with at least 50% being in the form of a waiver (relinquishing the rent forever) and the balance being a deferral of rent.
Landlords will be prohibited from evicting or locking out tenants unless they have first renegotiated the rent and attempted mediation.
August 2021