Saturday, June 10, 2023

Commercial Tenancy Relief Scheme by the Victorian Government

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The Commercial Tenancy Relief Scheme (the Scheme) has been introduced by the Victorian Government to ease the financial hardship faced by commercial tenants as a result of the corona virus (COVID-19) pandemic.

Sponsoring Agency: The Victorian Small Business Commission

Type of Fund: Grant

Deadline: January 15, 2022

Details:

The Scheme is broadly based on the previous Commercial Tenancy Relief Scheme that was introduced in 2020, with the objective of supporting tenants and landlords to negotiate in good faith to reach an agreement on rent relief in a timely manner.

The Victorian Small Business Commission (VSBC) will provide support to tenants and landlords through a free mediation service to assist parties in reaching a fair and satisfactory agreement.

Eligibility Criteria

Small to medium commercial tenants with an annual turnover under $50 million and a demonstrated decline in turnover of at least 30% due to the impact of COVID-19.

For more information, visit Business Victoria.

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