ECONOMY

Which sectors will not pay rent in July

which-sectors-will-not-pay-rent-in-july

The landscape concerning commercial rentals in July has finally acquired some clarity after the government released its decision on the sectors that this month will continue to enjoy an exemption from rent payments. These sectors do not include food service or tourism-related businesses, contrary to what many companies had hoped for.

The decision rules that the companies to be fully exempted from rent payment this month are those in the sectors of culture and sports as well as those that have had their activity suspended through specific government order, such as exhibition centers and conference halls.

Also in July the 40% rent reduction continues to apply to employees who are on furlough, as far as their main residence is concerned, or the student residence of their child in another city.

To date many entrepreneurs from sectors such as food service and tourism refused to pay their July rent to their landlords claiming that the government decision would favor them too. The publication of the decision means they must now pay up in full, as 100% of the July rent is due for them just like in all other sectors not included in the decision.