The National Retail Association (NRA) and Franchise Council of Australia (FCA) are joining forces to call for urgent rental relief for businesses paralyzed by the ongoing lockdown in NSW.
Many small businesses and retailers in NSW are at a breaking point, so both the NRA and the FCA are calling for the reintroduction of last year's legislation to facilitate commercial tenancy law in NSW.
"Without significant support over the next six months, many will simply not survive," says NRA CEO Dominique Lamb.
“Snap lockdowns can certainly hurt a company, but prolonged restrictions like we've seen in NSW require extensive support for the hard-hit companies. For this reason, we are calling for the reintroduction of the NSW leasing code, which served tenants and landlords so well during the 2020 lockdown.
"The real estate industry is one of the few that has not received extensive government support, which is why a comprehensive solution is needed that helps both tenants and landlords."
Mary Aldred, CEO of FCA added, “Deferring rent during lockdown is one thing, but it does not help much during prolonged restrictions. At some point the debt will pile up and eventually have to be paid, with many companies simply unable to continue.
“NSW businesses of all sizes suffer, but those with sales up to $ 5 million are at greatest risk of going under.
"The situation in NSW is a dire situation for many in the franchising industry, which is why the FCA supports the immediate reinstatement of the NSW leasing code."