Music Victoria and the Victorian Small Business Commission hosted an information session on the Commercial Tenancy Relief Scheme which you can now watch below.
The session covers eligibility, the process and how mediation can work for tenants and landlords.
More about the scheme
The Scheme was introduced by the Victorian Government to ease the pressure on Victoria’s small and medium-sized businesses (with an annual turnover of less than $50 million) that have experienced a fall in turnover of more than 30 per cent during the coronavirus (COVID-19) pandemic.
Eligible business owners can obtain relief in the form of a proportionate reduction in rent. For example, a business with a turnover of 40 per cent of pre-pandemic levels can only be charged 40 per cent of its rent. Of the balance, at least half must be waived, with the remainder deferred.
Under the Scheme, the Victorian Small Business Commission (VSBC) is supporting tenants and landlords by providing information to assist with negotiating a rent relief agreement and access to free and impartial mediation if a fair agreement can’t be reached.
Tenants can also apply to the VSBC for a binding order for rent relief if their landlord fails to respond or sufficiently respond to the VSBC or doesn’t engage in mediation in good faith.
The Scheme applies retrospectively from 28 July 2021 and will run until 15 January 2022.