Good news! The Flemish government has now also - in addition to the already existing support measures for house rental - reached an agreement on a support measure for commercial rental.
The Corona crisis caused a lot of companies to be forced to close their premises (temporarily or not) by the government, while the trade rent continued to run. This was and is a difficult situation for both tenant and landlord. The tenant has to rely completely on the "goodwill" of the landlord, while the landlord does not always have the possibility to waive rent just like that. The rents are often an essential source of income for the landlord.
The Flemish Government is now committed to advance a maximum of 2 months rent as a loan (from the Participatie Maatschappij Vlaanderen - PMV) on the condition that the landlord also waives 1 to 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 fees). However, the start of repayment should only be made after 6 months.
After this approval in principle by the Flemish Government, the modalities still have to be worked out in more detail by PMV and the banks. At this moment, no applications can be submitted. We will keep you further informed!
If you would like more information about this, please contact us at 051 26 82 68 or via email at info@titeca.be.
