Business and Economy
DTI clarifies rents are deferred, not waived during ECQ
FILE: Trade and Industry Secretary Ramon Lopez at the International Media Center (IMC) in New Delhi, India on January 25, 2018. YANCY LIM/PRESIDENTIAL PHOTO
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez has clarified to tenants of both residential and commercial spaces that rental fees and charges are deferred but not waived, during the enhanced community quarantine.
During the Laging Handa public briefing Wednesday, Lopez said residential and commercial rents falling due within the quarantine period shall be deferred for at least 30 days without incurring interests, penalties, fees, and other charges.
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For instance, the due date for the rent is on April 25, payment shall be deferred for the next 30 days.
“We realized that not all landlords are big property owners. Some of them, renting out their property is their only means of living,” he said in Filipino.
Lopez added the cumulative amount of rents due within the quarantine period shall be equally amortized in the next six months.
Last week, President Rodrigo Duterte advised landlords not to pressure their tenants in paying their rents as the country faces the coronavirus disease 2019 (Covid-19) crisis.
“We all lose our income. I’d like to ask the owners to suspend payment for residential rents. Do not ask for payment because tenants do not really have the money and are struggling now,” he said.
But for mall operators, DTI’s Memorandum Circular No. 20-04 has ordered mall owners to waive rental fees and other charges for stores that were closed during the community quarantine.
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The national government started the community quarantine on March 15 in Metro Manila before placing the island of Luzon under enhanced community quarantine on March 17.
President Duterte extended the enhanced community quarantine from the original April 12 to April 30 to contain the spread of the virus.
On Tuesday, the government started the mass testing for Covid-19.
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