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Government, banks offer more relief to cash-strapped landlords

Published Wed, Jun 3, 2020 · 09:50 PM

Singapore

THE government may be mandating that commercial landlords help their tenants, but it will also assist landlords who face cash flow constraints as a result of providing relief to their tenants.

The Ministry of Finance (MOF), the Monetary Authority of Singapore (MAS) and a number of government agencies on Wednesday announced a package of measures to help such landlords with their existing loan commitments to ease their cash flow needs.

These measures complement earlier announced relief measures such as deferment of principal payments on commercial property loans for individual landlords and deferment of principal payments on secured term loans for SME and corporate landlords.

Now, banks and finance houses are allowing individual landlords who are current in their loan repayments as at Feb 1, 2020 to defer both principal and interest payments up to Dec 31, 2020 if they are required under the Covid-19 Amendment Bill to provide their tenants rental waivers or payment re…