Retail tenants receive Covid-19 rent relief package from landlords
Property owners to sacrifice at least R2bn in rentals and related costs for the 21-day lockdown period
The commercial property industry has unveiled a R2bn-plus package to assist tenants through SA’s lockdown.
To qualify for the relief benefits, retail tenants will need to undertake not to retrench staff during the relief period. The relief package comes after some national tenants including TFG, Pepkor and KFC owner Yum! Brands told their landlords they had definitive legal opinions which meant they wouldn’t need to pay rent for April, and in some cases beyond this, because of the lockdown.