Extension to support for commercial tenants and landlords
The NSW Government has extended the Retail and Other Commercial Leases (COVID-19) Regulation to benefit eligible commercial tenants and landlords across the state.
The Retail and Other Commercial Leases (COVID-19) Regulation was set to expire on 25 October 2020 but will now run until 31 December 2020.
Eligible landlords who reduce the rent of eligible tenants in financial distress between October and December, can apply for an additional 25 per cent land tax concession on relevant properties.
This is in addition to the land tax concession provided to landlords who reduced rent before 30 September.
The concession will be applied to any unpaid 2020 land tax liability, and refunds will be issued for payments already made this year.
Tenants will need to re-establish their eligibility under the extension to the Regulation if they wish to request further rent relief. Landlords will be required to respond to a tenant’s request for further rent relief in a reasonable amount of time.
The NSW Government introduced the regulation earlier this year when it implemented the National Cabinet’s Code of Conduct for commercial tenancies to provide support to small and medium size businesses in the wake of COVID-19.
Read more about the regulation.
Visit our commercial leases and COVID-19 FAQs.
If you need help negotiating a commercial lease, please visit the interactive tool on the Service NSW website.