02 Apr COVID-19 – HAS YOUR BUSINESS HAD TO CLOSE?
HAS YOUR BUSINESS BEEN FORCED TO CLOSE BECAUSE OF COVID-19?
COVID-19: ARE YOU STRUGGLING TO PAY YOUR RENT AND OVERHEADS?
WHAT CAN YOU DO?
Covid-19 has led to the closure of many businesses on the Northern Beaches. Some cafes and restaurants are serving take-away only and others have been made to close completely.
This is an incredibly stressful time for business owners.
Many of you may be asking ……
“…..where’s my next rent payment coming from?”
If you are unable to meet the rent payments for your business you may be able to argue that your lease has been “frustrated” at law. This could lead to your rent obligations being set aside or at least be a good argument for having your rent reduced.
A contract may be frustrated where, through no fault of either party circumstances change which make the contract impossible to perform or deprive the contract of its commercial purpose. Where a contract is found to be frustrated, each party is discharged from future obligations under the contract and neither party may sue for breach.
If you would like to know more about your options as a commercial tenant, we can help. Call us on 02 9976 0231.