ECONOMY

Landlords to get reimbursed for half of rental revenue losses

landlords-to-get-reimbursed-for-half-of-rental-revenue-losses

Enterprises affected by the November lockdown are entitled to a 40% rent reduction on all their commercial properties they lease.

The same applies to the main residence of their employees and their children’s rent if they are studying away from home.

What’s changed now is that their landlords will have half of their losses returned to them in cash, through their bank accounts, and not offset by tax dues.

Therefore a 1,000-euro rent will drop to €600, but the owner will get €300 back from the state. Landlord federation POMIDA said the government has finally accepted its demand to that effect.