Commercial landlords are being encouraged to be as flexible as possible with issues around payments during the coronavirus crisis.
And under government emergency powers nobody can evict an individual or a business from their premises at this difficult time.
That’s the message from the government amid grave concerns from small independent business traders who were forced to lock up their shops during Covid-19.
A friend of one worried trader contacted the Examiner to express concern that to their knowledge there was no scheme to aid the commercial tenants, regarding their rent, who were the majority of Manx retailers and service providers.
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catastrophe
They said: ’These businesses have been closed (by the emergency powers regulations) and have lost all their sales/revenue overnight.
’This is a personal catastrophe for many hundreds of Manx people at the moment.’
A spokesman for the Department for Enterprise told Business News: ’The Isle of Man Government has introduced an unprecedented range of measures to support businesses and individuals through financial hardship during the pandemic.
’Chief among these are the core measures of the Covid-19 Wage Support Scheme and the Manx Earnings Replacement Allowance, designed to help businesses retain staff and support workers who are out of work, respectively.
’Payment for property, whether through rent or mortgage, will understandably be a key concern for both businesses and individuals, and as a result, government has introduced a range of non-governmental deferment initiatives, including:
lDiscussions with local banks around a range of measures including mortgage and loan repayment holidays - businesses and individuals in financial distress are encouraged to contact their bank to discuss the options available
lMeasures under the Emergency Powers Act to ensure that landlords will not be able to evict an individual or business from either their homes or their business premises for non-payment over this difficult period.
’In addition to these measures, landlords and tenants are encouraged to be as flexible as possible with regard to issues around payment. Working together to help each other during this difficult time will ensure the economy is best placed to recover once the impact of the pandemic has subsided.’