On 24 April 2020, the COVID-19 Omnibus (Emergency Measures) Act 2020 (Vic) came into effect (the Legislation) following similar legislation in other states. This legislation provides for a range of measures to help Victorians cope with the impact of the Covid-19 crisis. However, we are still not there yet in terms of complete clarity for [...]
Following a national cabinet meeting, the Prime Minister has today announced new rental waivers and deferrals for commercial and retail lease tenants who have been impacted by the COVID-19 pandemic. Under this new ‘code of conduct’, landlords will be required to reduce leases in proportion to the reduction in the tenant’s business. The code will [...]
Doing the rounds on LinkedIn of late reveals a plethora of information, tips and tricks for tenants and landlords alike to get through the current difficult climate. These include: recommendations for tenants in requesting rent abatement or reductions; advice for landlords on realising security upon a tenant’s default, making insurance claims and vacancy minimisation strategies; [...]
As commercial lawyers, we are asked to review a variety of commercial property leases on behalf of tenants and, just as often, asked to prepare them on behalf of landlords. A common initial question among many tenant clients is: do I really need you to review this first? Of course, you’d expect the lawyer’s answer [...]
