Rental relief: Trade dept issues guidelines for 30-day grace period

MANILA -- The Philippines on Monday released guidelines for a 30-day moratorium on residential and commercial rent for small businesses to ensure that no one will lose their home due to the coronavirus lockdown, the trade department said.

The 30-day grace period will be counted from the last due date that walls within the enhanced community quarantine or ECQ, the Department of Trade and Industry said. The lockdown or quarantine is scheduled to end on April 12.

Cumulative rent that needs to be paid within the quarantine period must be amortized equally in the 6 months following the end of the said period without charges, it said.

Paid residential and commercial rent during the lockdown will not be refunded but lessors should grant a minimum 30-day grace period from the next due date, it said.

“No Filipinos should lose their residence during the ECQ period. Moreover, the importance of MSMEs (micro, small and medium enterprises) in jumpstarting our economy once the ECQ has been lifted cannot be understated,” Trade Secretary Ramon Lopez said. 

“Through these measures, we ensure that our fellow Filipinos have a future after the ECQ with homes that they can live in and through jobs and employment provided by our MSMEs,” he added.

• Small businesses get 30-day moratorium on rent payments: COVID-19 task force

Complaints can be filed at the Fair Trade Enforcement Bureau (FTEB) through FTEB@dti.gov.ph or any DTI regional offices. Lessors found guilty of failure to provide a 30-day grace period could be imprisoned for not less than 2 months or fined by not less than P10,000.