Commercial rent relief has been top of mind for many in our industry during this last lockdown. Below details a timeline of Property Council’s interactions with the Government on this critical topic for our industry.
We are happy to provide more information on any of these items.
New Zealand is placed into Alert Level 4 lockdown
Property Council reached out to the Minister of Justice, Kris Faafoi, to provide him with a briefing on the complexities of the commercial lease issue and offering our support.
Finance Minister Grant Robertson is quoted as saying:
Asked about commercial rent support, Robertson said the Resurgence Support Payments - which can be up to $21,500 - can be used for anything including fixed costs such as rent.
Many commercial leases also included the "unable to occupy" clause in the contract, but Robertson conceded that some didn't, and the Government could step in if level 4 continued for an "extended period".
"We will continue to look at our options in that regard."
Property Council sends a communication to Minister Faafoi offering assistance if any work is undertaken on commercial leases.
Property Council releases data from its largest property owners that indicates more than $320 million in rent relief has been provided to tenants since March 2020. This survey was later expanded to the wider membership, with 200 respondents indicating over $650 million in rent relief had been provided to vulnerable tenants.read more
13 October 2021
Meeting between Ministers Kris Faafoi and Poto Williams, Leonie Freeman and Scott Pritchard (National Chair, Property Council) to discuss the surprise bill and make clear Property Council’s position and availability to help provide property industry expertise.
18 October 2021
Letter to Minister Faafoi from Property Council following our meeting with him confirming our willingness to work on the content of the Bill with Ministry officials.
4 November 2021
Letter to Minister Kris Faafoi confirming our availability post the Bill passing to provide input and industry expertise
13 November 2021
Property Council commenced drafting of its Draft Industry Operational Guidelines.
Consultation period between 15-17 November.