The deadline is fast approaching for eligible business tenants in Victoria who want to apply for rent relief and take advantage of the backdating of relief from 28 July, 2021.
The deadline is this Thursday, September 30.
However, if eligible tenants miss the deadline, they can still apply for rent relief after 30 September, but those tenants will miss out on the July backdate, and the relief period will only apply from 30 September, 2021.
Law Squared, which houses a team of commercial, corporate and litigation lawyers, are helping businesses of all sizes navigate their way through rental negotiations with landlords during these economically challenging times with free rent relief resources and templates.
Law Squared founder, Demetrio Zema, said many business owners were seeking out guidance and support on how to navigate the financial pressures of rental commitments, and general business challenges, during these times.
Law Squared have developed two resources: a ‘Letter to Landlord’ template which will help businesses form the basis of their rental relief request with their landlord, and a ‘Rental Relief Calculator’ to help assist businesses in determining the relevant rent waiver and deferral amounts they are eligible for.
“We’ve seen firsthand just how hard the pandemic has hit businesses of all sizes over the last 18 months, so the least we can do is offer these resources free of charge to those who need all the support they can get in the current situation,” said Demetrio.
Law Squared supplied Retail Beauty with the following key points regarding the mandatory reassessment of any rent relief agreement for tenants who apply for relief before September 30, 2021.
- Tenant’s Rent Relief Request: A tenant’s rent relief request must in writing and confirm specific details, including:
- that the tenant is an eligible tenant;
- that the tenant satisfies the decline in turnover test;
- the turnover test period, comparison period, the decline in turnover;
- the relief the tenant is seeking;
- any other circumstances that the tenant would like the landlord to consider when making a relief offer (optional).
- Supporting Evidence & Statutory Declaration: Alongside the rent relief request letter, tenant’s must also provide to the landlord:
- mandatory evidence that confirms the tenant’s turnover figures. This can be a letter from your accountant or your BAS statements that demonstrates the turnover details you’ve used in your rent relief request; and
- a statutory declaration which states that the tenant is an eligible tenant and that the information and evidence provided is true to the best of the tenant’s knowledge and belief.
- Landlord’s Response: Landlords have 14 days to respond to tenants with their rent relief offer.