In order to alleviate some of the financial impacts from COVID-19 restrictions, both the Federal and State Governments have introduced extensive changes to tenancy legislation for residential and commercial properties.
Specific components of each area's changes are listed below, however the common element is for a moratorium on evictions for a period of six months and the requirement for property owners to negotiate in good faith with tenants affected by the COVID lockdown restrictions to determine rent waivers and deferrals.
At least they tried
As a prelude to providing these guidelines, the Federal Government had negotiated with the banking sector to ensure loan repayments could be 'hibernated' or deferred for a set period.
At a high level, this approach would seem like a good solution to the immediate cashflow problem, however the implementation of the approach revealed the real financial load for property owners.
South Australia and the Northern Territory
At the time of writing, the SA and NT Governments are yet to confirm their approach for local commercial tenants and landlords. This page will be updated as further information becomes available.