NSW Commercial Landlord Hardship Fund

Note If you are a smaller landlord whose main source of income is impacted by providing rental relief to retail or commercial tenants who have been financially impacted by the 2021 COVID-19 lockdowns, you may be eligible for relief under the NSW Commercial Landlord Hardship Fund.

The Commercial Landlord Hardship Fund Itself

The NSW Commercial Landlord Hardship Fund provides grants of up to $3,000 (GST inclusive) per month per property to eligible small landlords who will or have experienced hardship as a result of providing rental relief to their tenant(s) under the Retail and Other Commercial Leases (COVID-19) Regulation 2021 and Schedule 5 of the Conveyancing (General) Regulation 2018.

However, if you have claimed land tax relief between 1 July 2021 and 31 December 2021, you are ineligible for the Fund.

Eligible Landlords

In order to be eligible for NSW Commercial Landlord Hardship Fund, you must:

in relation to property situated in NSW that is affected by a current impacted lease, for each property, be the landlord; have entered into an agreement to provide rental relief to tenant(s) in the period 13 July 2021 till 13 March 2022; and have or will not claim land tax relief between 1 July 2021 and 31 December 2021;
exclude the value of any principal place of residence, have total land holdings the value of which is equal to or less than $5 million as at 31 December 2020;
have gross rental income as their primary source of income (gross rental income being more than 50% of total gross income) for the 2019–20 or 2020–21 financial year;
attest that providing rent relief to the tenant(s) may cause financial hardship.

How the program works

Before applying to the Fund, landlords must:

Reach a rental abatement agreement to reduce rent payable.
Obtain tenant’s approval to disclose terms of the agreement for the purpose of applying for the Fund.
Retain evidence that the agreed reduction in rent has been applied to the month for which the Fund is being claimed.

Claims and payments under the NSW Commercial Landlord Hardship Fund is now in 3 tranches.

Tranche 1 is in respect of the value of the current rent waived from 1 August 2021 to 14 November 2021. You can apply for Tranche 1 now.

Tranche 2 covers the period 15 November 2021 to 13 January 2022. Applications for tranche 2 are not yet open

Tranche 3 covers the period 14 January to 13 March 2022. Applications for for tranche 3 are not expected to open till March / April 2022.

More Information

To learn more about the NSW Commercial Landlord Hardship Fund and apply for Tranche 1 click here.

If you want a confidential discussion on your business situation, or help with this grant contact me below

If you like this, why not share this with a friend, simply click on one of the icons to the left or below

[simple-social-share]

Contact Wayne Wanders for your FREE Business Survival Session

To ensure I help your business specifically, the best approach I have found is to have an obligation free session with you. In this session we will review your current business in a factual and objective manner, to better understand the challenges that you face. And this session does not need to be face to face.

At the end of this session, you will have multiple ideas on how your business can survive and thrive in these uncertain times.

Simply fill in the contact form below or email me at wayne@aRealCFO.com.au or call me on 0412 227 052 to organise one of these obligation free sessions.

To get help you successfully navigate your way through your financial challenges so your business can survive and thrive in these uncertain times, simply use the contact form on the left to email Wayne or call him on 0412 227 052.

We promise to keep your email address safe.

Let Wayne Wanders, a fully qualified and experienced CFO, help you successfully navigate your way through your financial challenges so your business can survive and thrive in these uncertain times.

Wayne Wanders, A Real CFO

wayne@aRealCFO.com.au

If you like this, why not share this with a friend, simply click on one of the icons to the left or below