The NSW Government has announced new support for renters and landlords impacted by the COVID-19 lockdown, including up to $210 million in grants to eligible landlords.
Residential tenants will have greater protection with a targeted eviction moratorium, which will be implemented through legislative changes.
Residential landlords who decrease rent for impacted tenants can apply for a grant of up to $1,500 or land tax reductions depending on their circumstances. The land tax relief will be equal to the value of rent reductions provided by landlords to financially distressed tenants, up to 100 per cent of the 2021 land tax year liability.
Minister for Better Regulation Kevin Anderson said the short-term tenancy and landlords support package will provide renters and landlords with immediate assistance during the COVID-19 lockdown. The new package will, for the first time, provide a rental subsidy grant of up to $1,500 for landlords who offer rent reductions to COVID-19 impacted tenants.
Eligibility
To be eligible for the payment, you must:
- be a landlord or managing agent
- have proof of the residential tenancy agreement(s) with your tenant(s) such as:
- a rental bond number, or
- a written tenancy agreement if no bond has been lodged.
- have reduced the rent for your COVID-19 impacted tenant(s) from 14 July 2021.
The rental assistance package is just one part of the NSW Government’s commitment to supporting our communities through COVID-19.
Source: Residential tenancy support package
How to contact us
We’re available to assist you with the lockdown support for your business.
Many of the details required to apply for grants and funding, such as full eligibility and decline in turnover details, are not yet available. We will keep you up to date.
In the interim, you can contact us BOA & Co. accountants on 1300 952 286, our Specialist will be pleased to assist you.