The Commercial Landlord Hardship Fund 3 opened for applications on 13th September 2021 to assist eligible small Victorian landlords that may experience hardship due to waiving rent for their tenants between 28th July 2021 and 15th January 2022 under the Commercial Tenancy Relief Scheme (CTRS)

 
Grants from this fund are up to $6,000 per eligible tenancy, or in the case of acute hardship, $10,000 per tenancy
 
Applications for this fund will close at 23:59 on 15th January 2022 or when funds are exhausted.
 
 
Details of the Commercial Landlord Hardship Fund 3
 
 Eligibility 

To be eligible for the grant, landlords must:
 
  • be an Australian citizen, resident or Australian incorporated entity (on its own or as trustee for a trust);
  • be a small landlord with TOTAL taxable LANDHOLDING less than $3 million, excluding principal place of residence owned by individuals;
  • be an owner and landlord of the property for which an application is made;
  • be a landlord that has made a rent relief agreement with their tenant(s) under CTRS in operation between 28th July 2021 and 15th January 2022.
  • attest that:
    • they hold the written consent of the tenant(s) to provide business and contact details;
    • commercial rent represents more than 50% of their total gross annual income for 2019/2020 financial year;
    • information provided in the application is true and correct;
 
 Grant Amount 

The grant amount will be the lesser of $6,000equal to the amount of the rent waiver (excluding amounts deferred) provided to the tenant(s) between 28th July 2021 and 15th January 2022.
 
Landlords can request for acute hardship consideration where the grant amount will be up to a maximum of $10,000.  To be considered under acute hardship the landlord must submit a letter (template from business.vic.gov.au) from a qualified accountant or registered Tax/BAS agent that confirms that:
 
  • Commercial rent represents at least 70% of the landlord’s total gross annual income for the 2019/2020 financial year; and
  • The landlord is neither an owner occupier nor a related party of the tenant;
 
The grant is not subject to GST.
  
How to apply 

Applications must be made online via the Business Victoria website.  Landlord with multiple properties covered by CTRS must make a separate application for each property.
 
Part owners (owners that are in a partnership) must apply for the grant separately.
 
  
Documents required in the application 
 
  1. Landlord acceptance letter that details the following: (the letter template can be found on business.vic.gov.au or here)
    1. Start/End date of the Rent Relief;
    2. Total amount of Rent Relief (Waived and Deferred) provided per month;
    3. Amount of Rent waive (per month);
    4. Amount of Rent deferred (per month if any);
 
  1. Full copy (including all pages) of the 2021 State Revenue Office Land Tax Assessment (showing landholdings between $250,000 to $3 million.  Where the land value of the property is lower than $250,000 or the property was purchased in 2021, a full copy of the 2021-2022 municipal rates notice. 
 
  1. Full copy (including all pages) of the signed lease agreement with the tenant showing:
    1. The total dollar of monthly rent;
    2. Tenant(s)’contact details;
    3. Tenant(s)’ ABN;
 
  1. For acute hardship consideration (where the rent waiver provided is going to be more than $6,000):
    1. Letter from a qualified accountant/agent which confirms that:
    2. Commercial rent represents at least 70% of the landlord’s total gross annual income for the 2019/2020 financial year; and
    3. The landlord is neither an owner occupier nor a related party of the tenant;
 
  1. Acceptable Proof of Identity of either of the following
    1. Drivers Licence
    2. Medicare card
    3. Australian Visa
    4. Australian Passport
  
Other useful information:
 
  • Rent relief letter request (from tenant to landlord) template (from business.vic.gov.au);

 
For further details on the Commercial Landlord Hardship Fund 3 please refer to the website of Business Victoria.

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