1. Tenant Right
1.1. Ability to terminate leases on the ground of financial distress
1.2. Reduction or waiver of rental payment for a defined period in exchange for longer term or amortised over a longer period
1.3. Tenants will not be evicted by landlords for rental default when financial distress due to coronavirus
2. Assessment Criteria
2.1. Business Continuity Insurance
2.2. Eligibility for JKS
2.3. Existing Bank Guarantee
2.4. Existing Incentives
2.4.1. Opportunity to frontload existing incentives
2.5. Not legally breaching any clauses
2.5.1. Frustration of Lease
2.6. Mandatory/Voluntary Shutdown
2.6.1. Demonstrate Financial Distress
2.6.2. Mandatory shutdown notice from gov
2.6.3. Eligible to JKS is defined to be Financial Distressed
2.7. Proven Financial distress
2.7.1. Compare Monthly Turnover to prior year
2.7.2. Minimum viable cash level
2.8. Proven government assistance
2.8.1. Employee cost assistance
2.8.1.1. JobSeeker assistance
2.8.1.2. Cashflow Boost via Payroll Refund
2.8.2. Business Investments
2.8.2.1. Instant Business Writeoff
2.8.2.2. Enhanced depreciation measures
2.8.2.3. Early access to Superannuation
2.8.3. Business Support
2.8.3.1. SME Loan Guarantee Scheme
2.8.3.2. Victorian Government Grant
2.8.3.3. JobKeeper Assistance
2.8.3.4. Insolvency & Bankruptcy Amendment
2.8.3.5. Land Tax Deferral
3. Information Requirement
3.1. Mandatory shutdown notice
3.2. Eligible for JKS
3.2.1. JobKeeper Submission Forms by 26/4/2020
3.2.2. Ongoing JobKeeper Docs
3.2.2.1. Pre-payment and post-payment GST turnover records
3.2.3. References to existing lease agreement
3.3. Not Eligible for JKS
3.3.1. Projected accounts incl govt assistance
3.3.2. Pre-payment and post-payment GST turnover records
3.3.3. 2-years Financial Information
3.3.4. Bank Statements
3.3.5. References to existing lease agreement
3.4. Statutory Declaration where required
4. Moratorium
4.1. 1. a short term, temporary moratorium on eviction for non-payment of rent to be applied across commercial tenancies impacted by severe rental distress due to coronavirus;
4.2. 2. tenants and landlords are encouraged to agree on rent relief or temporary amendments to the lease;
4.3. 3. the reduction or waiver of rental payment for a defined period for impacted tenants;
4.4. 4. the ability for tenants to terminate leases and/or seek mediation or conciliation on the grounds of financial distress;
4.5. 5. commercial property owners should ensure that any benefits received in respect of their properties should also benefit their tenants in proportion to the economic impact caused by coronavirus;
4.6. 6. landlords and tenants not significantly affected by coronavirus are expected to honour their lease and rental agreements; and
4.7. 7. cost-sharing or deferral of losses between landlords and tenants, with Commonwealth, state and territory governments, local government and financial institutions to consider mechanisms to provide assistance.
5. Time Period
5.1. JKS def: Pandemic Period is 30/3/2020 - 27/9/2020
5.2. Reasonable recovery period *No definition of Recovery Period in JKS*
5.3. Assessable on a monthly/quarterly basis
6. Choice of Resolutions
6.1. Not Eligible for JKS
6.1.1. Net of Office Rent / 80% Gross Rent basis
6.1.1.1. Rent Discount / Future Amortisation
6.1.1.1.1. Future Amortisation
6.1.1.1.2. Term Extension
6.1.1.2. Rent Deferral / Future Amortisation
6.1.1.2.1. Future Amortisation
6.1.1.2.2. Term Extension
6.1.2. Rental exchange for Service
6.1.2.1. Turn Robinson Gill on our team?
6.1.3. Additional Personal/Directors Guarantee
6.1.4. Lease renegotiation
6.1.5. Turnover Provisions
6.1.6. VCAT Remediation
6.1.7. Tenant Exit/Surrender
6.1.8. Deduction from Bank Guarantee/Security Deposit
6.2. Eligible for JKS
6.2.1. Rent Reduction of Current Month Rent proportionate to Current Month Turnover
6.2.1.1. Rent Waiver
6.2.1.1.1. Must be >50% Rent Reduction
6.2.1.1.2. Not to be recouped in any form
6.2.1.1.3. Above 50% will subject to ability for tenant and landlord's affordability to allow for it
6.2.1.1.4. Below 50% Rent Waiver by Landlord will subject to tenant's agreement.
6.2.1.1.5. No penalty, interest or fee to be charged to tenants
6.2.1.2. Rent Deferral
6.2.1.2.1. Rent Deferment must be amortised over no less than 24-months or rest of lease term whichver greater
6.2.1.2.2. Any amortised period can be agreed by parties
6.2.1.3. Term Extension
6.2.1.3.1. Ability to extend the lease for equivalent period of rent reduction period
6.2.2. Forfeit tenant's right to the code if tenant doesn't remain committed to the lease
6.2.3. Benefit Pass-on in Proportionate
6.2.3.1. Statutory Rates or Insurance
6.2.3.2. Loan Deferral