Compulsory Mediation Requirements Extended for NSW Commercial Leases
The Retail and Other Commercial (COVID-19) Regulation 2022 (Regulation) has extended compulsory mediation provisions in NSW for eligible small businesses until 30 June 2022.
The Regulation has extended the requirement for mediation until 30 June 2022 for eligible commercial tenants with an annual turnover of less than $5 million. The extension of the Regulation continues support for commercial leases including those not covered by the Retail Leases Act, with the understanding that the extended Regulations do not provide directions in respect to rent relief or rent deferment.
The impetus for the extension has arisen from the success of mediation experienced by landlords and tenants, offering both parties practical solutions, with many small businesses being able to continue to trade during the COVID-19 pandemic.
Please do not hesitate to contact us directly if you have any questions about the Regulation.