New financial support rolled out for NSW tenants and landlords in lockdown

author-avatar By on August 17, 2021
New financial support rolled out for NSW tenants and landlords in lockdown

As a result of the ongoing lockdown in Sydney, the state government's Residential Tenancy Support package has been extended for another month.

Sydney tenants who have lost at least 25% of their income can now nab an extra $1,500 in rent assistance, meaning they can access a total of $3,000 in financial support.

Landlords who negotiate a rent discount with their tenants who have been impacted by lockdowns - who can show they have lost at least 25% of their income - can now access a total of $3,000 in government-provided financial support.

The amount per tenancy agreement is now capped at $3,000, or the amount of reduced rent since 14 July 2021 - whichever is lower.

This means that landlords can claim up to $3,000 for each rental property affected.

The amount per tenancy agreement has been increased from the original $1,500 and is now capped at $3,000, or the amount of reduced rent from 14 July 2021, whichever is lower.

This $3,000 can be spread out across as long as the tenants would like, meaning they can either factor in the entire reduction straight away or gradually spend it over time.

Alternatively, landlords can apply for the 'COVID-19 land tax benefit', which offsets the land tax liability equal to the rent reduction granted to their tenants.

Tenants are still protected by a 60-day eviction moratorium until 11 September 2021.

Shannyn Laird, Head of Customer Experience at :Different, said that if tenants are eligible for rent relief, their landlords must enter into negations in 'good faith'.

"If the tenant stops paying rent because they've tried to work with the landlord and the landlord refuses, the landlord can't do anything about it," Ms Laird told Savings.com.au.

Ms Laird said that in her experience, people are trying to be reasonable when negotiating rent decreases.

"We've all just got to get through it to get out of it," she said.

Landlords who have already applied for the $1,500 rent support can make another application for up to $1,500, and landlords who have not yet applied can submit one application for the total amount of rent waived, up to $3,000.
Landlords cannot ask tenants to repay the amount of rent waived.

Other financial support still available

Across NSW, the 'JobSaver' program is available to businesses and individuals affected by the ongoing lockdown.

Eligible businesses are able to receive between $1,500 to $100,000 per week (based on their weekly payroll).

These payments are available to businesses with an annual turnover of $75,000 to $250 million that have lost at least 30% of their income.

Additionally, the COVID 'disaster payment' of up to $750 per week can be claimed by people who have lost work during lockdown.


Image by Michael Lee on Unsplash

Latest Articles

author-avatar
Rachel is a Finance Journalist, and joined Savings in 2021. Coming from a background in the FinTech space, her interests include the innovation of lending technology, property, investing, and more. With a passion for educating and informing people about their finances, she hopes to increase the financial literacy of everyday Australians.

Be Savings smart.
Subscribe for free money newsletters.

By subscribing you agree to the Savings Privacy Policy