Applications for the Commercial Landlord Hardship Fund close on Saturday, 31 October.
The fund provides grants of up to $3000 to small, private landlords who may not have the capacity to provide rent reductions to their tenants under the requirements of the Commercial Tenancy Relief Scheme (CTRS). Each grant amount is equal to the amount of the rent waiver provided to the tenant up to a maximum of $3000 (a rent waiver is where the rent owed for an agreed period of time is never repaid).
To be eligible for the Commercial Landlord Hardship Fund, the landlord/s must:
- Be a private individual or joint landlords who are private individuals (not a Trust, Self-Managed Superannuation Fund, or any other incorporated entity)
- The sole owner, or joint owner with other private individuals, of a leased commercial property and the individual total taxable landholdings are under $1 million
- Have a commercial property that is in Victoria and is leased to a tenant that is eligible for rent relief under the CTRS
- Be experiencing, or will experience, financial hardship as a result of reducing rent for tenant/s.
To learn more and apply, visit the Business Victoria website.
Information on additional land tax relief for landlords can be found on the State Revenue Office's Land Tax Relief webpage.
The Victorian Government is offering a range of other support for businesses including landlords and tenants who have been impacted by COVID-19, details of which members are encouraged to review on Business Victoria‘s business support page.
For more information
Business Victoria: Commercial Landlord Hardship Fund (Apply now)
Business Victoria: Commercial Landlord Hardship Fund FAQs