Landlords will be blocked from evicting tenants under a plan being worked on by the state and federal governments.Credit:Peter Rae
A separate plan is underway to help small business owners stay afloat when they cannot pay the rent because their stores and services have been closed down by government edict to slow the spread of COVID-19.
The measures do not include a federal bailout to pay the rent for residential or small business tenants,given the states and territories are responsible for tenancy laws and are taking the lead on stronger protections for renters.
At least $9 billion in commercial rent is at stake this year in the office market,according to estimates from Deloitte,while the consulting firm estimates residential rents to be worth $16.5 billion a year in Sydney alone.
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Prime Minister Scott Morrison discussed the plans with state and territory leaders in the national cabinet meeting on Wednesday night,clearing the way for new measures to be announced within days.
The measures would prevent landlords evicting tenants from both residential and commercial leases if those tenants can point to the coronavirus crisis as the cause of their financial stress.
Demand for help is growing after more than 280,000 people told Centrelink on Wednesday they intended to claim payments under the emergency coronavirus assistance measures.