As each State Govt rushes to respond to this health crisis, we strive to update our community on the most recent changes relating to residential real estate as well. And this update is no different.
This time, we’ll be unpacking the New Residential Rent Relief Grant released by the WA Govt last week on the 23rd of April 2020! The WA State Government is making available $30 million for grants of up to $2,000 for Western Australian residential tenants who lost their jobs on or after 20 March 2020 and are facing financial hardship due to the COVID -19 pandemic.
Here to fill us in on the details is Damian Collins, President of REIWA, the Founder and Managing Director of Momentum Wealth and also the Chairman of commercial property funds management business, Mair Property Funds.
In this short update, we’ll be covering these questions:
- How are WA landlords and renters affected by a moratorium on evictions?
- If there is any Land Tax Relief for Property Owners?
- Can rent be increased during the emergency period?
- What is the emergency period?
- What constitutes Financial Hardship and what documents are needed?
- Can a renter ask to reduce their rent payments?
For more questions relating to WA Rent Relief Grant, please refer to this website: https://www.commerce.wa.gov.au/consumer-protection/residential-tenancies-covid-19-response
And of course, if you’re a tenant and are currently facing financial difficulties due to COVID-19, we strongly recommend you to check out the New Residential Rent Relief Grant by the WA Govt here to apply for the grant.
- Residential tenancies – Western Australia COVID-19 response
- WA Govt. Residential Rent Relief Grant Scheme
- Become A PICA Member
And of course… Additional Helpful Resources on COVID-19
National Update: Click here
- Australian Capital Territory – Click here
- New South Wales – Click here
- Northern Territory – Click here
- Queensland – Click here
- South Australia – Click here
- Tasmania – Click here
- Victoria – Click here
- Western Australia – Click here
And One Final Word…
If you’re worried about your finances or if you have no clarity on your cash flow position, we strongly recommend you to organise your finances now. It’s more important than ever to have a clear view, down to the exact cent, on how much you’re spending each month and how much surplus you’ve got. If you don’t know it, then log in to your Money SMARTS Platform here and update the numbers.
Don’t have an account yet? Create your free access below and we’ll also send you an e-copy of the instruction manual which is also our best-seller book, Make Money Simple Again. Just fill in the form below and we’ll email it to you right away.