The State of Alert in Spain has been extended until May 10th. To ease the economic impact of COVID-19 on the self-employed and SME’s, the Spanish Government has announced some new measures.
As of April 22nd, business owners may defer the rent payment for their shops or offices, provided they comply with the following conditions:
-The premises must be for commercial or professional use only, not for residential use.
-The lessor must own more than 10 spaces for commercial use. It makes no difference whether the landlord is a person or a company.
-The leaseholder must require the landlord to delay the payment before the 21st of May.
How long is the payment delayed?
Once approved the deferral of the payment, it will apply for the remaining of the State of Alert and for some time afterwards. The total duration of the delay will not exceed 4 months in total, and no interests or surcharges will apply.
Payment of the deferred lease
After the deferral period, leaseholders will
re-start the normal payment of the rents and they will have to pay back the
deferred amount. This will be done in partial payments, extended on a
period of 2 years maximum, or until the end of the lease if it ends earlier.
How can we help you?
Though the Royal Decree states that the leaseholder must require the lessor to defer the rent payments, your solicitor may do this for you. Contact us at email@example.com as soon as possible if you need our assistance and we will be glad to help you.
For more information about Royal Decree 15/2020, click here