The Premier of Victoria has today issued further guidance to landlords and tenants regarding their lease obligations, having regard to the COVID-19 restrictions which continue to remain in place across Victoria.
The key takeaway from the announcement (which relates to both commercial and residential tenancies) is that evictions (except in certain circumstances) and rent increases will be prohibited until 31 December 2020. Previously, these measures were due to end on 29 September 2020.
Further land tax discounts of up to 50 per cent are also available for eligible landlords.
The Victorian Government has also announced the establishment of a $60 million fund for eligible small commercial landlords experiencing hardship, which will provide up to $3,000 per tenancy.
The Premier’s announcement can be viewed in full here. We will provide further updates as they are released.
The information in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, we do not guarantee that the information in this newsletter is accurate at the date it is received or that it will continue to be accurate in the future.