Flemish Government reaches agreement on commercial leases: payment of commercial leases may be suspended for 3 or 4 months

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Good news! The Flemish Government has now also reached an agreement - in addition to the already existing aid measures for housing rental schemes - on aid measures for commercial leases.

 

Many companies were forced to close (temporarily) by the government, because of the corona crisis while their commercial leases continued. This was and remains a difficult situation for both tenants and landlords. Tenants can only count on their landlord’s "goodwill", while many landlords need the rental income. For landlords, this rental income is often an essential source of income.

 

The Flemish Government has now committed to paying a maximum of 2 months’ rent in advance, as a loan (with the Participatiemaatschappij Vlaanderen - PMV) provided the landlord also waives 1- or 2-months’ rent.

The total amount of the loan is a maximum of 25,000 euros and must be repaid within a maximum of 18 months. The interest rate is 2% (including bank charges). However, repayment only starts after 6 months.

 

Following this approval, in principle, by the Flemish Government, the PMV and the banks will now have to further develop the terms and conditions. Therefore, no applications can be submitted at this stage. We will keep you informed! 

 

If you need help or advice in order to benefit from one of the above measures, we will gladly assist you.  You can contact us by phone at 051 26 82 68  or by sending an e-mail to info@titeca.be.