Housing Society Extends Rent Concession for Commercial Tenants
With the approval given by its Executive Committee, the Hong Kong Housing Society (HKHS) announced today (18 September) to extend the 75% rent concession for about 450 eligible commercial tenants and car park operators of HKHS for six months from 1 October 2020 to 31 March 2021, in response to the Government's latest relief measures. Eligible commercial tenants may apply for full rent waiver for the period during which their businesses are required to be closed due to closure orders or directions as part of the Government's anti-pandemic measures within the selfsame period.
Besides, about 530 monthly car park users parking commercial vehicles at HKHS's premises are also eligible to apply for a 75% rent waiver for the abovementioned period.
HKHS Chief Executive Officer James Chan said, "The rent forgone arising from further rent concession will be around $139 million. It is hoped that the measure will help our commercial tenants whose businesses have been severely affected by the COVID-19 pandemic to tide over this difficult time, so that they can continue to serve our residents."
Starting from October 2019, HKHS has introduced relief measures in phases to offer rent concession for its commercial tenants, car park operators and monthly car park users parking commercial vehicles, which costed over $235 million rent foregone.