News

COVID-19 and Commercial Leases

Scott Mackenzie | 7 May 2020 | Business Law | Property

The NSW Parliament has recently adopted the National Cabinet Mandatory Code of Conduct SME Commercial Leasing Principles During COVID-19 (“the Code”) in the following legislative amendments:

  1. Retail and Other Commercial Leases (COVID-19) Regulation 2020 in relation to Retail Leases; and
  2. Conveyancing (General) Regulation 2018 in relation to Commercial Leases.

The Code imposes a set of good faith leasing principles for commercial tenancies in order to preserve the commercial relationship between the parties beyond the COVID-19 pandemic period.

The Braye Cragg Solicitors Commercial Team have formulated an explanatory document outlining:

  1. A General Overview of the Code;
  2. The Steps of Negotiating a Variation to the payment of rent;
  3. Potentital Shortfalls of the Code; and
  4. General Advice for Landlords and Tenants.

If you would like to download the explanatory document, click here: https://brayecragg.com.au/pdf/National%20Cabinet%20Mandatory%20Code%20of%20Conduct%202020.pdf

If we can assist you with negotiating and preparing documentation to vary the terms of your lease in response to the Code, please contact our office by telephone on (02) 4926 6000 or by email or reception@brayecragg.com.au.

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