The VSBC is continuing to develop its digital strategy by launching its new online process for applying and receiving Five Year Waiver Certificates under Section 21(5) of the Retail Leases Act 2003 (the Act).
Under the Act tenants have the right to a five-year term but can waive this right and sign a lease for a shorter period of time. To waive the right to a five-year term tenants must apply to the VSBC for a Five-year Waiver Certificate.
The VSBC has implemented this new process after receiving strong feedback from small businesses that they would prefer a more accessible and streamlined process.
It enables tenants to simply go to the VSBC website to instantly access all explanations and information and complete the application. The Waiver Certificate will be automatically created and sent to the tenant by email. This can be done at any time, from any location, and at the convenience of the tenant.
This replaces the procedure where tenants had to submit an application, and then wait to be contacted by a VSBC staff member who provided the explanation and confirmed that the consequences of giving the waiver certificate to the landlord were understood. The certificate was then prepared, scanned and emailed to the tenant.
The VSBC receives approximately 1,200 waiver certificate applications per year so this new process will benefit a vast number of small businesses who lease their retail premises.
Small Business Commissioner Judy O’Connell emphasised the need to listen to small businesses and to streamline procedures to ease the administrative burden on them.
“The new online process has been created to ensure continually high service and ease of access for small business owners to obtain the information they need when they need it,” Ms O’Connell said.
Access the new online system here.