Your guide to the extended COVID-19 Leasing Regulation (Qld) in 150 words or less

Your guide to the extended COVID-19 Leasing Regulation (Qld) in 150 words or less

02 October 2020 Authored by: Michael Donnelly   |   Topics: Property and planning law

The extended Regulation, now expiring on 31 December 2020, can be found here.

Further guidance by the Queensland Small Business Commissioner can be found here.

A brief snapshot:

  • Entitlement to claim relief for the extension period (1 October 2020 to 31 December 2020) is now based on SME tenants showing at least a 30% turnover drop in July/August/September 2020 compared to the same period last year.
  • Tenants can no longer demand rent waivers. Owners therefore only have to (logically) grant rent relief deferrals proportionate to the turnover drop.
  • 1/24th instalments of agreed deferred rents for the initial response period to 30 September 2020 can start to be collected from 1 October 2020.
  • Owners are still unable to take ‘prescribed action’ until 1 January 2021 – so still a bar on recovery and for any failure to open/trade for the core trading hours.
  • Owners and tenants can still do deals on their own terms – but, if the lease is caught by the Regulation, cannot agree to implement rent increases until 1 January 2021.

If you have any queries, or we can be of any assistance, please contact a member of Cooper Grace Ward’s Property team.

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