COVID-19’s Impact on Commercial Leases and the New Rental Relief Framework

Description

The Government has passed the Amended COVID-19 laws in June 2020,  requiring landlords to give SME tenants more rental waivers.

There will be further relief for qualifying SMEs’ tenants since the passing of the new laws on Covid-19 (Temporary Measures) Act. Under this Act, landlords were required to pass on the benefit of property tax rebates without imposing conditions to their tenants of commercial properties.

Tenants can apply for Notification for Relief under the Act, and if granted, the Covid-19 law imposes moratorium on certain prohibited legal actions by landlords - this is to give parties time to negotiate during the 6 months relief period.

Under the amended law, SME tenants of certain commercial properties who suffered a revenue drop will get rental waivers. Besides allowing tenants to repay arrears through installments, the new law will also cover temporary relief from onerous contractual terms e.g. excessive late payment interest.

SME tenants with qualifying leases or licences commencing before 25 March 2020, will be given a new cash grant to offset their rental costs.
The practical webinar will also cover those commercial, retail and industrial leases that are not covered by the above Covid-19 new laws. In particular, the use of force majeure clauses and the common law doctrine of frustration under contract law will be discussed.

Target Audience

Bank Officers, Government Agency Officers, Property Developers, Housing Managers and Officers, Sales and Leasing Executives / Managers, Tenant Relations Officer, and anyone who wants to know the obligations and rights of landlord and tenant.

Expert Speaker

Catherine Tay

Catherine Tay has 35 years of experience in lecturing business law at the NUS Business School, where she was formerly an Associate Professor. She is author of more than 20 books, including titles on Contract Law, E-Commerce Law and Infectious Diseases Law & SARS. She has also contributed and published legal articles in established international journals.

Catherine studied law at Queen Mary College, University of London and graduated with a Master of Laws.  She did her pupillage under the Honourable Lady Mary Hogg in London. Catherine is an Advocate & Solicitor of The Supreme Court of Singapore and also a Barrister-at-Law (of Lincoln's Inn), United Kingdom. She is a highly sought-after Trainer, and regularly conducts in-house seminars for hospitals, banks, statutory boards, hotels, commercial firms and companies, clubs and associations.

  • Jul 13
    Mon, 2:00 PM SGT - Mon, 5:00 PM SGT Online
    • $278.20 incl. GST (7%)
    • PD hours: 3

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One-Connection-One-Fee

Our webinars operate on a 'one-connection-one-fee' basis, so you can have your whole team participate together in a boardroom setting for one cost effective price, using one registered log-in connection. The registered attendee will receive a CPD certificate.

Recordings

Like the topic but can’t make the time? Register for the Live Session and you’ll receive the Recording regardless! Recordings are provided for webinars with a duration of 3 hours and less.