The Property Industry Group has announced a rent relief fund for retail sector members who are affected by the lockdown.
The retail sector's rent relief fund targets preserving jobs for retailers, their suppliers and service providers for the lockdown period.The Property Industry Group has announced a rent relief fund for retail sector members affected by the lockdown.
The initiative targets preserving jobs for retailers, their suppliers and service providers, said Estienne de Klerk, the group's spokesperson. De Klerk said though its primary focus was on SMMEs across all sectors, the group has also included providing support to large retailers affected by the lockdown.
The package stipulates that all tenants whose accounts were in good standing at February 29 2020 could be assured there would be no evictions for the next two months. “In addition, retailers prevented from trading in compliance with South Africa’s government-mandated lockdown , and in good standing at the end of February 2020, are offered some form of assistance from landlords. The extent of that relief depends on the severity of impact.
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