A resolution has been achieved for commercial tenancy agreements after the Federal Government announced a mandatory code, which will apply if a tenant is eligible forJobKeeperpayments and have a turnover of less than $50 million.
However, residential tenancies have been passed back to each state and territory to deal with and REIWA is strongly urging the McGowan Government to come to the party in order to help both tenants andowners.
REIWA President Damian Collins said we have over 250,000 rental properties in Western Australia andthousands ofWest Aussies who have lost their jobs since the pandemic started.
We need to see emergency residential rent relief for tenants who lose their jobs as a result of coronavirus, to allow them to keep paying rent for the next six months. Mr Collins said.
While the State Government clearly has an enormous amount to deal with, the issue of residential tenancies is vital to hundreds of thousands of West Australians and needs to be resolved soon.
Its your mum and dad investors and their tenants thatmayfeel the brunt if thelandlordcan no longer afford to pay their mortgages. Mostproperty ownersare already willing to help tenants who find themselves in financial stress because of coronavirus,but the burden should not fall back entirely on the owner.
REIWA looks forward to working with the State Government on a favourable solution which will assist landlords, tenants and property managers during this crisis.
