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Law change for commercial landlords and tenants to address Covid-19 rent relief

Caity Peacock

On 4th June, the Government announced law changes to help certain businesses resolve commercial rent disputes arising from COVID-19. Where an eligible tenant has suffered a material loss of revenue due to COVID-19, the landlord must reduce the tenant’s rent and outgoings by a “fair proportion” (even if the lease agreement says otherwise). If the landlord and tenant can’t agree on a fair proportion, then they will have to go to arbitration to resolve the dispute, and the arbitration costs are subsidised by the Government.

For more information see: https://www.beehive.govt.nz/release/supporting-kiwi-businesses-resolve-commercial-rent-disputes