Brisbane Southside Blog

Following much speculation the Retail Shop Leases and Other Commercial Leases (COVID-19 Emergency Response) Regulation 2020 came into effect on 28 May 2020 and implements the National Cabinet Mandatory Code of Conduct - SME commercial leasing principles during COVID-19.

The new Regulations will expire on the 31 December 2020 and are closely aligned to the original Code but with substantially more detail.

Commercial Property owners who had taken their Property Managers advice to keep arrangements with their tenants on a short term basis are now in a good position to ensure that a fair and equitable arrangement can be put in place for the future now that the new Regulations have been passed.

This along with the benefit that a Property manager can give by providing a healthy degree of separation between owners and tenants, has helped remove the stress from what we are finding in many cases to be an emotional time that reflects the uncertain environment and future.

Combined this with a lot of misinformation regarding the new Regulations and we find ourselves talking with both owners and tenants on a daily basis to help them understand how the Regulations reflect on them and their leases. 

Our Managers are now well versed in how to explain and negotiate the new Regulations with all parties to ensure that the confusion is removed and both parties can work towards a mutually agreeable arrangement.

This experience has become particularly relevant in setting the levels of assistance and much experience has been gained in seeking out suitable accounting information to justify a level of assistance to be offered, whether this be with the use of BAS statement, P&L statements or working closely with both sides’ accountants.

With seven full time experienced Commercial Managers we are always available to assist and would love to hear from you should you require some help.

Toby Sopp
Associate Director - Asset Management Division
07 3216 6666
[email protected]