Archive | March, 2020

NSW emergency legislation

March 30, 2020

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In an earlier post we referred to NSW legislation giving the Minister power to create emergency regulations to prevent the termination of leases during the COVID-19 crisis. The NSW legislation is now available here: https://www.legislation.nsw.gov.au/acts/2020-1.pdf The text relevant to commercial and retail tenancies is set out below. It is worth noting that: Although a state-by-state […]

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Banks announce moratorium on loans repayments if commercial tenants not evicted

March 30, 2020

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The Age has published that: Banks will allow commercial landlords with loans of up to $10 million to delay their loan repayments by up to six months, on the condition tenants are not evicted due to the coronavirus crisis. For more information, see https://www.theage.com.au/national/victoria/coronavirus-victoria-updates-live-stricter-social-distancing-measures-kick-in-as-australia-s-covid-19-infection-rate-falls-20200329-p54ezy.html See also: https://www.ausbanking.org.au/banks-to-help-commercial-landlords-who-help-tenants/  

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PM announces 6 month moratorium on termination of commercial and residential tenancies for non-payment of rent

March 29, 2020

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The Prime Minister has just announced a 6 month moratorium on termination of commercial and residential tenancies for non-payment of rent. The term commercial, presumably, also includes retail leases. The Age website has reported this: Mr Morrison has also announced a moratorium on evictions from commercial and residential rental properties. He says states and territories […]

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The Prime Minister has announced the following that affects landlords and tenants…

March 27, 2020

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The theme of the presentation was to put the economy into hibernation by protecting businesses from unsustainable debt and rent arrears after the closure period. The Prime Minister repeatedly signalled that 6 months is the period that the Government is considering.  However, we are yet to hear any more details of the package. The suggestion appeared […]

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Scott Morrison is speaking now and is expected to make an announcement affecting landlords and tenants

March 27, 2020

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Consumer Affairs information page about residential tenancies, inspection and auctions and owners corporations

March 27, 2020

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Consumer Affairs Victoria has put up an information page in response to the COVID-19 crisis that gives information about, among other things, residential tenancies, inspection and auctions and owners corporations. The website is available here: https://www.consumer.vic.gov.au/resources-and-tools/advice-in-a-disaster/coronavirus-covid19-and-your-rights?utm_medium=email&utm_campaign=Important+message+from+CAV+about+Coronavirus+%28COVID-19%29&utm_content=consumer.vic.gov.au%2Fresources-and-tools%2Fadvice-in-a-disaster%2Fcoronavirus-covid19-and-your-rights&utm_source=submit.consumer.vic.gov.au Thanks to my colleague Bill Stark for sending this to me.

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ABC report on government measures for COVID-19, including reference to rent payable during closure periods

March 27, 2020

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The ABC have posted an article foreshadowing the Federal Government’s package to help the country through the COVID-19 crisis. The report includes the following that is relevant to landlords and tenants: Banks, lenders and landlords would all be asked to wear some of the pain, waiving all overheads including rents and mortgage repayments for at […]

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More closures, but few answers

March 27, 2020

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In the absence of any definitive answers from either the Federal or State Governments my colleague Elizabeth Ruddle continues to trawl the media for news on the retail leasing sector and has sent me the information below. Following on from reports yesterday that Premier Brands will be closing their stores until April and have unilaterally […]

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Covid-19 update: Property Council calls for Land Tax relief; more councils provide rent relief

March 26, 2020

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As the Tasmanian Government has been debating its stimulus package, the Property Council has been pushing for relief for landlords in the form of Property Tax reductions or deferrals. https://www.nationaltribune.com.au/property-council-of-australia-calls-for-urgent-utilities-state-and-local-government-relief/ https://www.propertycouncil.com.au/Web/Content/Media_Release/TAS/2020/PROPERTY_COUNCIL_OF_AUSTRALIA_CALLS_FOR_LAND_TAX_RELIEF.aspx This is in line with the Victorian Government stimulus package announced last week which included the ability for commercial tenants in government buildings to […]

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Premier Investment shuts all of its stores until 22 April 2020

March 26, 2020

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The Age has reported that Premier Investments will shut all of its stores until 22 April 2020 and will not be paying rent over the period. Premier Investments brands include Smiggle, Peter Alexander, Jay Jays, Just Jeans and Portmans. For more information, see: https://www.theage.com.au/business/companies/retail-carnage-hundreds-of-stores-close-as-30-000-workers-stood-down-20200326-p54e1j.html

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