Ways to ease the pressure

The fallout from the Covid-19 lockdown is hurting both tenants and landlords, but since each state released its own relief measures, the situation has become clearer and easier to navigate. Residential and commercial tenants impacted by the pandemic have protection to stay in their home up to September, but exactly how things will work has been left up to each state and, ultimately, relies on negotiations between both parties.

Banks will ease pressure on homeowners with mortgages – both residential and investment – with a moratorium on loan repayments for six months. This means that interest will still accrue on loans for landlords, and the duration of the loan will be pushed out accordingly – so it’s a temporary measure.

In NSW, where a household is struggling to make rental payments and has suffered a loss of income equal to or greater than 25%, there is a new obligation to enter into negotiations with their landlord