If you’re a commercial tenant struggling with rent payments, further support is here with new regulations through the Commercial Tenancy Relief Scheme.
Small and medium businesses that have experienced a loss in turnover of more than 30% during the pandemic will receive financial relief in the form of proportionate rent reduction. New businesses will also be protected, with special arrangements in place to calculate the turnover for businesses that were not operating in 2019.
As part of the Scheme, the Victorian Small Business Commission will support tenants and landlords with information and free mediation to negotiate an agreement.
The Scheme will apply retrospectively from 28 July 2021 and will run until 15 January 2022.
Tenants and landlords can contact the Victorian Small Business Commission for further information on 13 87 22 or visit vsbc.vic.gov.au.