The Property Council of Australia welcomed today’s tenant eviction moratorium and said it was eager to work in partnership with government and banks to ensure commercial property owners are in a strong position to support businesses impacted by the coronavirus outbreak.
“We welcome the six month tenant eviction moratorium announced today. It’s a sensible, fair measure and one that we have said should be taken,” said Ken Morrison, Chief Executive of the Property Council of Australia.
“We look forward to seeing the further detail of the principles agreed by the National Cabinet and working with government, banks and business on their implementation.
“The Prime Minister tonight sensibly urged a three-way partnership between landlords, tenants and banks to sit down, talk and work out agreements in the best interests of all parties.
“Many of these conversations have already been happening and will continue as landlords, banks and businesses work together to map out the way ahead through the economic crisis.
“As the Prime Minister said, there is a vitally important role for the banks in these conversations as a sustainable approach to supporting tenants will absolutely need their support so that landlords are not left financially overburdened themselves,” Mr Morrison said.
The Property Council continues to urge state and territory governments to also provide land tax relief for property owners as a critical part of the solution to helping landlords support their tenants through the economic impacts of the coronavirus outbreak.
“Land tax is a business tenants largest outgoing and providing relief here is a practical measure to lower base costs for tenants,” Mr Morrison said.
