Commercial Leasing Guidelines
The Property Council has written to Queensland’s Treasurer advocating against an extension to Queensland’s commercial leasing guidelines.
The letter is written in anticipation of a possible extension to the Retail Shop Leases and Other Commercial Leases (COVID-19 Emergency Response) Regulation 2020 in line with extension of the Federal Government’s JobKeeper payment until 28 March 2021.
In the letter, the Property Council notes that:
- The Property Industry is the only sector that has been actively regulated to provide additional support to other sectors during the COVID period.
- Landlords and tenants have overwhelmingly been able to negotiate amicably and enter into their own rental relief agreements.
- There is a strong commercial imperative for landowners to protect and maintain existing relationships with their tenants.
- Commercial landlords are either smaller scale mum and dad investors or companies that support and employee Queenslanders.
As such, extending the guideline beyond the end of the response period on 30 September 2020 would force an additional administrative and financial onus onto businesses at a time when they can least afford it.
To read the Property Council’s full letter, please click here.