Relief for tenants in complicated rental market being considered by coronavirus national cabinet

Relief for tenants in complicated rental market being considered by coronavirus national cabinet
Relief for tenants in complicated rental market being considered by coronavirus national cabinet

Prime Minister Scott Morrison has said there will soon be an announcement for the hundreds of thousands of people who have lost their jobs and small business operators who can't pay rent. 

"A lot of progress has been made over the course of today and over the course of this week, we'll be looking to hopefully finalise some measures", Morrison said when responding when the government will announce how they will help to ease people's rent bill.

"This is obviously a complicated issue because you've got a tenant, you've got a landlord, you've got creditors and all of those issues and you need to solve for the entire chain that's there", Morrison said.

He said it will be considered tonight at the National Cabinet.

"The states, working together with the treasurer, have done some excellent work today and there's more work to be done on that."

He said it is the states that have the legislative authority when it comes to tenances, both commercial and residential, and the Commonwealth has other incentives and levers that it can pull to support and enable the chain of businesses and individuals who are caught up in rental stress.

Morrison suggested, aside from jobseeker payments and family tax benefits, that rent payments and how much people are paying on their energy bills, is another area that they are working with the energy companies.

"We've already seen some concessions on that, which we welcome", Morrison said.

He made mention of the mortgage relief, which the banks have already moved on.

"I think it's really good work to try and reduce the pressures that otherwise are falling on people at this incredibly difficult time."

 

 

 

 

 

 

Joel Robinson

Joel Robinson

Joel Robinson is a property journalist based in Sydney. Joel has been writing about the residential real estate market for the last five years, specializing in market trends and the economics and finance behind buying and selling real estate.

Tags: 
Rental market Coronavirus

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