Extension of commercial code to push landlords to their limits
The Victorian Government has today announced an extension to the COVID-19 commercial leasing scheme. Under the extension, evictions will continue to be banned, with limited exceptions, until 31 December.
Responding to the announcement, Property Council of Australia, Victorian Executive Director, Cressida Wall, said, “We welcome the additional land tax relief announced and will work with the State Government on the technical detail of proposals to introduce additional obligations on landlords.”
The Property Council has expressed grave concerns on the impact of this announcement.
“The extension will push many landlords to their limits or beyond. Landlords cannot keep propping up the system.”
“As the crisis goes on, we will need goodwill and action from both banks and governments to ensure that these businesses do not go under and take down the economy with them,” said Ms Wall.
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