Rent relief

[King13]

Hi

What is the rent relief property owners have generally given in response to the Covid-19 lockdown? Clause 27.5 states a fair proportion of the rent should be abated for the no-access duration. The dilemma is what is a fair proportion!

Also, tenants are requesting rent relief for a longer term. How long is a 'longer term'?

Kind regards.

[jimO]

Hi

What is the rent relief property owners have generally given in response to the Covid-19 lockdown? Clause 27.5 states a fair proportion of the rent should be abated for the no-access duration. The dilemma is what is a fair proportion!

Also, tenants are requesting rent relief for a longer term. How long is a 'longer term'?

Kind regards.

if labour gets its way it will be forever

[King13]

The government has stayed out of this as there can be major legal issues with contractual law.

Most commercial landlords have agreed to 25-50% discount on rent for 2-6 months. The tenants forget that the landlord is also in business and has mortgage payments to cover.

[NZPP_COMPROP]

First check that the clause applies to the Lease in question..

First check that the clause applies to the Lease in question. There are many Leases templates in operation that does not have this particular clause. Also it will be good get some Lease advisory help.

Also, lets not over look that the Tenant will need to show that their business suffered from Covid19 through proper financials.