Victorian small commercial landlords to share in $60m hardship fund

Victoria’s small commercial landlords will share in a new $60 million hardship fund to help them weather the COVID-19 restrictions currently in place across the state.

Under the fund, which has been established after being announced on Thursday, eligible small commercial landlords will be able to apply for a $3000 payment per tenancy.

The announcement comes as the Victorian Government extended its moratorium on commercial property evictions and rent increases, aimed at protecting tenants whose trading conditions and turnover have been severely impacted by coronavirus.

The moratorium will now be in place until December 31, after it was originally due to expire at the end of September.

The landlord hardship fund is aimed at small, private landlords who may not have the ability to reduce their tenants’ rent under the requirements of the Commercial Tenancy Relief Scheme.

It includes private, individual and joint-owner landlords.

The fund opened on Friday and will be available for eight weeks or until funds allocated to the scheme are exhausted. Landlords can apply here.