Relief for commercial tenants

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.

Hold on evictions for renters


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.

Code of conduct for commercial tenancies


A mandatory code of conduct outlines a set of good faith leasing principles for commercial tenancies including:

between:

This code applies to tenants that are:

Rent reductions will be based on the tenant’s decline in turnover to ensure that the burden is shared between landlords and tenants.

The policy will include a mutual obligation requirement on the small and medium-sized businesses and not-for-profit tenants to continue to engage their employees through the JobKeeper Payment where eligible, and if applicable, provide rent relief to their subtenants.

Australian and foreign banks, along with other financial institutions operating in Australia, are expected to support landlords and tenants with appropriate flexibility as they work to implement the mandatory Code.

The Government is also waiving rents for all its small and medium enterprises and not-for-profit tenants within its owned and leased property across Australia.

The code and its principles will be implemented and regulated by your relevant state or territory.

Principles of the code

The code includes a common set of 14 principles. These include that:

We believe that it is up to each State to get this finalised and in law, even though direction has come from a Federal perspective. Please contact Omnis Group’s Business Accountants if you have any questions in relation to this latest COVID-19 update or require our assistance with the information as outlined.
Source: Relief for commercial tenants | business.gov.au (2020). Available at: https://business.gov.au/Risk-management/Emergency-management/Coronavirus-information-and-support-for-business/Relief-for-commercial-tenancies

Justin Flavel

Managing Director

Justin’s experience spans across 20 years in accounting, financial analysis and general business practice.

Although born and bred on the land, Justin’s interest was more in spreadsheets, ledgers, and finance which led him to attend university. In 1992, Justin graduated with a Bachelor of Business majoring in Accounting and Finance. As well as qualifying as a CPA member and becoming a Fellow of the Taxation Institute of Australia, he began gaining practical experience in small and mid-tier accounting practices.

During the late 90s, Justin decided to expand his horizons and travel through Europe. It was during this time that he seized the opportunity to expand his knowledge on the workings of large organisations by taking on roles in multinational corporations.

Today, Justin’s passion is in facilitating businesses to grow and evolve. His focus is on acting in the role of business mentor to help clients develop the full potential of their businesses. He joins clients on their unique journey, and provides the tools and knowledge they need along the way to make the right decisions.

Justin’s aim for his clients parallels his own philosophy and personal journey—focusing on his own career growth and business success while maintaining balance in his life with his wife and three daughters.

Omnis Group Managing Director - Justin Flavel