Midwinters Lawyers are currently assisting our Clients with a state commercial landlord relief scheme. The Victorian Government in recognition of the impact of the coronavirus (COVID-19) pandemic on commercial tenancies has now introduced the Commercial Tenancy Relief Scheme (CTRS) to support commercial tenants who have been adversely affected by the coronavirus (COVID-19) pandemic.
Before we continue it is important to point out that applications opened on 21 August 2020 for a period of only eight (8) weeks so it is imperative you are quick to respond to this initiative. Furthermore, this incentive may end sooner if the funds made available under this initiative are exhausted sooner.
If you would like to submit a request please click here and if you have any questions please do not hesitate to contact The Department of Jobs, Precincts and Regions on 13 22 15. The department will endeavour to notify all applicants with the outcome of their application within ten (10) business days following submission of an application.
This fund has been created in recognition of small private landlords who are struggling and do not have the capacity to provide rental reductions to their tenants under the Commercial Tenancy Relief Scheme.
The grants of up to $3,000.00 per tenancy are available to landlords who are facing financial hardship following rent reductions under the Commercial Tenancy Relief Scheme.
In addition to the support available under this initiative, including land tax relief please contact the State Revenue Office Land Tax Relief website click here.
Eligibility
Each applicant is only eligible to make one application under the fund so if you have multiple commercial tenancies you must include in one single application. In addition, the individual aggregated taxable landholdings must have a site value under $1,000,000.00, however this calculation excludes the value of their principal place of residence.
An application must also be a private individual or joint landlords who are private individuals as Self-Managed Superannuation Fund, Trust or other incorporated entities are not included under this initiative. The Department of Jobs, Precincts and Regions provides examples of grant funding eligibility click here as well as frequently asked questions (FAQ) to assist potential applicants with understanding their eligibility status.
Application
It is important to ensure that you include all the necessary information in support of your application or a determination maybe delayed or application declined.
Documents to include but not limited to:
1. 2020 Land Tax Assessment notice;
2. 2019-20 Municipal Rates Notice as this will confirm landholdings and location of the CTRS eligible premises.
3. Current agreement with a CTRS-eligible tenant that among other things will stipulate the amount of the rent reduction provided to the tenant;
4. Current Tenant contact information for verification purposes to ensure eligibility.
This overview does not constitute legal advice and if you would like to discuss your personal circumstances please do not hesitate to contact our team to assist you with an application.
Our team are ready to assist you with all your property law matters.
