Sun, 12 Jul 2020

Tenants given grace period for rental fees amid pandemic

Philippine Information Agency
04 Jun 2020, 08:38 GMT+10

DAGUPAN CITY, June 4 (PIA) - Tenants of residential or commercial establishments are given a 30-day grace period and a six-month installment strategy to settle their monthly rental payment amid the corona virus pandemic.

This was bared by Undersecretary Ruth Castelo of the Department of Trade and industry (DTI) during the 'Laging Handa' Public Briefing aired live over PTV-4 organized by the Presidential Communications Operations Office (PCOO).

Usec. Castelo said Memorandum Circular No. 20-29 issued on June 2, 2020, an amendment to the earlier Circular No. 20-12 issued on April 4, 2020, gives a 30-day grace period for tenants to pay their rental fees, in light of the public health emergency.

Based on the supplemental guidelines on the concessions on residential and commercial rents, the DTI has amended Sections 3.2 and 3.6 of the Memorandum to reflect the changes.

"The tenants can pay starting on the day of the lifting of the community quarantine or when he started to return to work, or when his business returned to operations," Usec. Castelo said during the June 2 episode of the government program.

In a separate interview, DTI Pangasinan Provincial Director Natalia Dalaten said tenants are also given an option to pay in six monthly installments in equal amortization after the grace period.

"With more than two months under quarantine here in Pangasinan and Luzon, tenants can start paying para hinda na sila masyadong mabigatan and they can avail of the installment scheme provided that they must execute a letter or promissory noted indicating such to be given to the landlord," Director Dalaten told the Philippine Information Agency.

The six months concession during the period of covered community quarantine shall continue to apply to rents, which due date is not earlier than March 17, 2020 and not later than the date of the issuance permitting lessee's employer or business to operate.

Dalaten said President Roridgo Duterte continues to look after the welfare of every sector of the community, thus the implementation of grace periods by virtue of humanity and kindness. (JCR/VHS/PIA-Pangasinan)

More Philippines News

Access More

Sign up for Philippines News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!