The Government has announced a range of measures to help renters. This includes a temporary hold on evictions and a mandatory code of conduct for commercial tenancies to support small and medium sized enterprises (SMEs) affected by coronavirus.
Evictions will be put on hold over the next 6 months for commercial and residential tenants in financial distress, who are unable to meet their commitments due to the impact of the coronavirus.
The code includes a common set of 14 principles. These include that:
landlords must not terminate leases for non-payment of rent during the COVID-19 pandemic (or reasonable recovery period)
tenants must stay committed to their lease terms (subject to amendments)
landlords must offer reductions in rent (as waivers or deferrals) based on the tenant’s reduction in trade during COVID-19
benefits that owners get for their properties (e.g. reduced charges, land tax, deferred loan payments) should be passed on to the tenant (in the appropriate proportion)
