Commercial Tenancy Relief Scheme: extension announced
On 20 August 2020 the Victorian Government announced changes and an extension to the Commercial Tenancy Relief Scheme until 31 December 2020. This means negotiations for rent relief between a commercial tenant and their landlord must consider this timeframe.
The Victorian Small Business Commission (VSBC) expects that tenants and landlords will continue to negotiate rent relief and, if requested, attend mediation with the VSBC in anticipation that the announced changes will come into effect in the coming weeks.
The VSBC encourages tenants and landlords to negotiate on the basis of this announcement, which states commercial landlords will be required to provide rent relief in proportion with the fall in turnover being experienced by eligible tenants going forward.