Landlord & tenant rent support —Victoria
The Age reported that the Victorian Government has announced a $500 million rent rescue package to support landlords and tenants. Under the package, $80 million has been set aside for tenants as direct rental payments and $420 million will be provided as land tax relief to landlords.
Under the package, landlords who offer rent relief to COVID-19-affected tenants will be eligible for a 25% discount to their land tax and will be able defer that tax until next March.
Residential tenants, who earn less than $100,000 p.a. and have less than $5000 in savings, will be eligible for up to $2000. It will be paid directly to landlords. It is expected that 30,000 residential tenants will apply.
If tenants and landlords cannot agree on rent arrangements, Consumer Affairs Victoria is managing a “beefed up” dispute resolution service to ensure fair agreements can be reached. (Landlords and tenants to share in $500 million rent rescue package – Benjamin Preiss and Clay Lucas, 15/04/20)
Read more on The Real Estate Conversation: $500 million property relief package for Victorian tenants.