PLEASE CLICK LINK BELOW TO ACCESS COVID-19 TENANT HARDSHIP FORM
https://form.jotform.com/200888673303055
Prime Minister has made further updates over the last 48hrs with regard to the real estate industry and in particular tenants in hardship due to COVID-19
Please see our video update here https://youtu.be/1ime81ASfxY
6 MONTH MORATORIUM ON EVICTIONS
Scott Morrison has announced a moratorium on evictions of both commercial and residential tenants for a period of six months. This gives security to many of our Tenants concerned about the ability to stay in their homes, which is great news.
WHAT DOES 6 MONTH MORATORIUM MEAN?
It essentially means evictions can’t take place for six months. However, it’s important to note at this stage there has been no further announcements about rent reductions or rent waivers. This means, as it stands now, if you find yourself in genuine financial hardship due to COVID-19, and are unable to pay all or some of your rent, you will still need to make up the difference once life returns to “normal”.
Unless otherwise negotiated between you and your Landlord, it’s important to maintain your current rental payments as any shortfall in rent will remain as a rent ‘debt’ you that will need to be repaid. This is similar to how many banks are handling deferment of mortgages – ie: mortgages may be put on hold, however interest will accrue and still need to be paid eventually.
TENANCY FINANCIAL HARDSHIP
If you experiencing financial hardship as a result of COVID-19, first and foremost – we are genuinely sorry for your circumstances. We urge you to refer to our previous email with a list of government incentives currently available, to see if you’re eligible. If, after exhausting all options you have readily available, you believe you are still unable to meet your tenancy obligations with regard to payment of rent, you need to immediately notify your Property Manager and CLICK ON LINK AT TOP to submit your hardship application.
TENANCY FINANCIAL HARDSHIP APPLICATION
To apply for a Tenancy Financial Hardship with Domain & Co, you will be required to complete an application form. This will outline information about your hardship, including evidence of employment and financial hardship. If a genuine financial hardship is occurring, we will contact you and try and work out a plan between you and your Landlord to make sure you meet your obligations as best you can. A payment plan may be arranged, either privately or through VCAT, dependent on your individual circumstances. It’s important to note we take falsifying of information very seriously.
FURTHER CLARIFICATION
We are seeking further clarification on the details of the governments’ announcement and what it means within the real estate industry - consequently the information in this email may change over the coming days.
The government has put a raft of financial incentives in place for individuals affected by COVID-19, and we have communicated these incentives to you already. However we encourage you to do your own research in that regard. Together, with the right advice, we will get through these times and work for you as best we can.
COVID-19 GOVERNMENT APP
Whilst we will continue to keep you informed of all new information as it comes to hand, we encourage you to download the COVID-19 GOVERNMENT APP, which includes all the important information you need to know right now.
WANT TO CHAT?
If you would like to contact your Property Partner to discuss this matter further, please feel free to email. You will appreciate we are currently fielding excess enquiries and concerns during this time, so we respectively ask you email rather than call. Please note our usually communication guaranteed is in place - if you email the team before 3.30pm during business hours, we will get back to you via phone or email that same day. Emails received after 3.30pm will be addressed the next business day, as per our normal communication guarantee.
If you still want to talk with one of our team members, that’s fine too – but let’s make a time that suits us both.
A FINAL WORD
From the team at Domain & Co., we just wanted to say thank you for your patience and understanding. These last few months have been devasting, for so many people. Through all this, we have witnessed amazing kindness and remarkable support, and it makes us very proud of all our Landlords, Tenants, and our whole team at D&C to be handling these difficult times with such grace and dignity.