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COVID-19 FAQ

COVID-19 FAQ

Answers to tenants' COVID-19 related frequently asked questions.

NSW Government Small Business FAQs - Commercial Leases and Covid-19

Commercial leases and Covid-19 faqs

Rent relief

We have 5 years left on our lease. We need rent relief during COVID-19 and changed terms post COVID-19. What do you suggest?

If an organisation does not qualify for the government’s Job-keeper Program, then does this mean they lie outside of the Code and cannot get rental relief?

My Landlord has requested P&L, Balance Sheet and Tax Returns for the preceding two years. Am I compelled to provide this level of information?

My Landlord has advised that they will only be providing rent relief if we agree to exercise our option to renew early. Can they do that?

My company’s revenue is over $50M which has reduced by 35% since COVID-19. Can I get rent relief?

My Company’s revenue is under $50M which has reduced by 20% since COVID-19. Can I get rent relief?

My business is ‘eligible’ under the Code. Is rent relief determined state-by-state or is there a Federal standard?

We expect a time lag in the impact of COVID-19 on our business (not eligible). Does this disqualify us from rental relief?

I am advised that the proportion of Rent Relief in the form of waiver is a minimum of 50% - please elaborate?

How else can occupancy costs be reduced in addition to rent reduction during the pandemic period?

Our landlord is an SMSF owner who claims they cannot afford to provide rent relief. What is our position?

If Rent Relief is agreed with the Landlord should we be entering into formal Deed recording the arrangement?

We hear that there will be an "L-shaped" recovery. What does this mean in relation to agreeing to deferred rent?

Our rent relief negotiations with our landlord are stuck. How do we move this forward?

Our landlord proposed rent deferral during the pandemic period. Our turnover is over $50M. What would you advise?

The COVID-19 impact on our business will continue well beyond the pandemic period. How do we negotiate relief?

Our landlord advised they will not amend the lease arrangement in relation to COVID-19. What is our position?

Our landlord has rejected our request for rent relief on the basis that our turnover is above $50 million. Is this valid?

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Lease accounting

COVID-19 has resulted in lease concessions and business risk. What does a lessee need to consider in accounting for these?

Lease restructure

We have 90 leased sites. We want to amend leases to suit the COVID-19 impact during and after the pandemic period. Any advice?

Re-occupancy

How do we know how many of our staff can return to our office during Covid-19?

Retail leasing

I am a retailer preparing to re-open, what are a few key areas needing attention to enable safe shopping?