The Commercial Tenancies Code was revealed after the National Cabinet meeting on 7 April 2020. The final piece of the Federal Government’s hibernation strategy, this sets the tone for commercial and retail rent relief and relies on tenants, landlords, government and banks to work together and share the pain in the short term.
Now agreed upon, the Code will be legislated and managed by the States and Territories and will be subject to binding mediation. The two core principles underpinning the Code will be good faith and proportionality, with landlords and tenants urged to work together on how to best manage rent relief going forward.
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Who does the mandatory code apply to?
What does rent relief look like?
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It’s changing by day – but to date we have seen most of the states and territories introduce law that enables the introduction of the national principles, however whether or not we have the detail in the form of the adopted regulations is another matter.
The States and Territories are responsible for providing any additional concessions for landlords working with their tenants. You can see all land tax relief here.
