Please see below information which may relate to your business:
To our commercial landlords, tenants and leasing agents, there has been no funded stimulus package announced today following the National Cabinet. What did come out of today’s Press Conference is:
- A MANDATORY Commercial Tenancy Code will be legislated in each state.
- Where a commercial landlord or commercial tenant is eligible for the JobKeeper Payment and have a turnover of less than $50m will be able to be involved in a WAIVER and DEFERRAL PROGRAM in relation to rent payments. It will include a Binding Mediation Process
- No announcement has been made around financial assistance with utility accounts, etc.
How does the Code work?
The code will be mandatory, and includes the following set of principles:
- Landlords must not terminate the lease or draw on tenant security;
- Tenants must honour the lease;
- Landlords will be required to reduce rent proportionate to the trading reduction in the tenants business over the course of the pandemic, through a combination of waivers of rent and deferrals of rent;
- Waivers of rent must account for at least 50% of the reduction in the rental provided to the tenant during that period; and
- Deferrals must be covered over the balance of the lease term, and in no less period than 12 months.
- The arrangements will be overseen by a binding mediation process.
The aim of this step will ensure the lease is preserved. It keeps the tenant in their property, and it keeps a tenant on the lease, which is also good for the landlord.
In the mean time, now more than ever, landlords and tenants should be working together to provide outcomes acceptable to both parties. Offers to pay no rent is not going to be received well by landlords, and expecting full rent without support is not going to be received well by tenants. Look at time framing your request, indicate what you can pay, and start dialogue around these points.
The following checklist will help you identify the strengths and weaknesses of your business’ physical security.
Please Note: It is not designed to cover all aspects of security but it will identify some common vulnerabilities whenever your response to a question is no.
· Are all external doors and windows in good condition and professionally fitted?
· Are there good quality locks on all doors and windows at ground level?
· Are there good quality locks on each accessible door and window above ground level?
· Can internal doors be locked when the building is left unattended for long periods?
· Do you nominate members of staff to check that all doors/windows are closed and locked at the end of
the business day?
· Do you maintain good visibility around the perimeter of your building (e. g cutting back overgrown planting)?
· Do you have adequate lighting around your building during the hours of darkness?
is committed to working with the community to prevent crime and reduce the fear
of crime. To access
our full range of crime prevention posters, fact sheets and booklets (including business security) please visit:
Be careful at this time for people who will try and take advantage of people’s vulnerabilities.
Common types of coronavirus scams have included:
- trying to exploit Australians financially impacted by the COVID-19 crisis with new superannuation scams
- phishing emails and phone calls impersonating entities. These include the World Health Organisation (WHO), government authorities, people confirmed to have the coronavirus, and legitimate businesses such as travel agents and telecommunications companies
- people receiving misinformation about the coronavirus, being sent by text, social media and email
- products claiming to be a vaccine or cure for the coronavirus
- investment scams claiming coronavirus has created opportunities.
Hope the rest of your week goes well for you.
Please contact me if you need any further information or assistance.
Salisbury Business Association Inc.
Supporting LOCAL Business
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