Streaming issues? Report here
Pippa Hudson 2019 1500 BW 2 Pippa Hudson 2019 1500 BW 2
Lunch with Pippa Hudson
13:00 - 15:00
volume_up
volume_mute

Up Next: Afternoon Drive with John Maytham
See full line-up
Lunch with Pippa Hudson
13:00 - 15:00
Home
arrow_forward
Local
fiber_manual_record
Business

'Up to 100% rental relief for some retail tenants' - Property Industry Group

7 April 2020 2:31 PM
Tags:
Retail
rent
tenants
Covid 19
rental relief

New rental relief measures announced on Tuesday will amount to as much as 100% off for some retail tenants.

They're among those hardest hit by the current nationwide Covid-19 lockdown, but now there's some good news for retail tenants.

The newly-formed Property Industry Group on Tuesday announced an industry-wide assistance and relief package to be rolled out by local landlords.

In some cases, it will mean rental charges for the current month are withdrawn completely.

The ranges that we've offered there can be as much as 100% off the rental in April and potentially even in May.

Estienne De Klerk, Spokesperson - Property Industry Group

The idea was to sit down and try to agree a package that we can consistently roll out across the whole industry.

Estienne De Klerk, Spokesperson - Property Industry Group

We've tiered retailers between large retailers and small retailers and the essentials and non-essentials.

Estienne De Klerk, Spokesperson - Property Industry Group

Property Industry Group spokesperson Estienne De Klerk says landlords are also dealing with a number of challenges at this time.

There's a couple of them [essential services traders] who haven't paid their rental this month - even though they are having record trade numbers...we believe that's pretty opportunistic.

Estienne De Klerk, Spokesperson - Property Industry Group

The Property Industry Group was established at the end of March in a bid to coordinate the industry's response to the coronavirus pandemic.

It comprises the major representative bodies for real estate in the country - the South African Real Estate Investment Trust (SA Reit) Association, the SA Property Owners Association and the SA Council of Shopping Centres.

Last month South African clothing retailer The Foschini Group announced it was halting rental payments because of the impact of the coronavirus outbreak.

Find out more about rental relief during lockdown by clicking below:


7 April 2020 2:31 PM
Tags:
Retail
rent
tenants
Covid 19
rental relief

More from Covid-19 coronavirus explained

ORTAMBO_0293

President Cyril Ramaphosa in Covid-19 self-quarantine

28 October 2020 10:13 AM

The President is self-isolating after a guest at a dinner he attended on Saturday tested positive for Covid-19.

Share this:
Read More arrow_forward

ramaphosa-imbizojpg

[WATCH] President Ramaphosa shuts down Level 3 lockdown rumours

28 October 2020 9:41 AM

Ramaphosa says the rumours are untrue and he is likely to address the nation next week.

Share this:
Read More arrow_forward

Europe EU European Covid-19 flag facemask surgical 123rf

Covid-19 spins out of control in Europe

28 October 2020 9:09 AM

"We’re in a right old state, frankly!" says UK correspondent Adam Gilchrist.

Share this:
Read More arrow_forward

Belgium Covid covid-19 123rf

Belgium orders infected doctors to carry on working as it loses control of Covid

27 October 2020 3:07 PM

The tiny, rich nation’s hospitals are days away from being overwhelmed. Europe is in trouble, but in Belgium, it’s really stark.

Share this:
Read More arrow_forward

Happy child kid face mask facemask covid-19 123rf

[BOOK REVIEW] The future arrived early - economist Dr Iraj Abedian

26 October 2020 7:34 PM

Famed economist Dr Iraj Abedian talks about his book, "FutureNEXT: Reimagining Our World and Conquering Uncertainty”.

Share this:
Read More arrow_forward

Woman saving money piggy bank mask 123rf 123rfbusiness 123rflifestyle

Middleclass incomes have recovered almost fully since hard lockdown – FNB data

26 October 2020 7:13 PM

The lowest and highest-paid workers in SA haven’t yet recovered from the lockdown, according to FNB's Dr Christoph Nieuwoudt.

Share this:
Read More arrow_forward

Empty piggy bank broke 123rfbusiness 123rf

Famous Brands (owner of Steers/Wimpy/etc.) reports its 1st ever operating loss

26 October 2020 6:52 PM

The Money Show’s Bruce Whitfield interviews Famous Brands CEO Darren Hele.

Share this:
Read More arrow_forward

Lockdown levels South Africa Covid-19 coronavirus 123rf

'Another hard lockdown will cause even more state violence'

26 October 2020 6:27 PM

Futurist Graeme Codrington and economist Dick Forslund on how a 2nd hard lockdown and a 2nd Covid wave might affect our country.

Share this:
Read More arrow_forward

mask-Covid-19-woman-driver-driving-car-coronavirus-commuting-sanitiser-123rf

European govts say they are 'losing control' as Covid-19 numbers spike

23 October 2020 10:53 AM

Europe is seeing 200k new cases a day as the second wave grips the continent, says Rob Watts of Deutsche Welle Berlin.

Share this:
Read More arrow_forward

Coronavirus Covid-19 South African flag 123rf

Is the Western Cape experiencing a second wave of Covid-19?

22 October 2020 1:42 PM

Lester Kiewit asks Dr Saadiq Kariem whether the Western Cape is heading towards a second wave of coronavirus infections.

Share this:
Read More arrow_forward