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Dear (Landlord Name),
Further to our letter sent to you dated 6th June, we write to you with an update on the status.
LOCKDOWN 2.0 – STAGE FOUR
second wave
Briefly explain stage four lockdown and the impact the Victoria businesses
Impact on real estate in general
To learn more about stage 4 lockdown please see link to Stage 4 Restriction Summary from Victoria government website https://www.dhhs.vic.gov.au/stage-4-restrictions-summary-covid-19
IMPACT TO TRAVEL & ACCOMMODATION INDUSTRY ONGOING
As mentioned in our previous correspondence, of relevance to your short stay rental property, and subsequent rental guarantee is looking at the Hotel and Short Stay Accommodation industry. Unfortunately, this sector has been further impacted after the 2nd wave of COVID cases and the subsequent stage 4 lockdown, with occupancy rates in record low.
YOUR IFSUITES PROPERTY
The occupancy rates in our IF Suites short stay rental pool, like our industry peers continues to be in record low, and the fact remains largely unchanged from when we wrote you in April and August, if not, it’s even worse now that we are at lockdown 2.0.
Ironfish are very grateful to have received many messages of support and understanding from our customers during what has been a difficult time for many.
Whilst IFSuites occupancy rate is in record low and we are facing various challenges in the current lockdown, we are committed to continue with our 50% payment to you.
BALANCE PAYMENT
We continue to work through the uncertainty and the significant financial impact of COVID. Due to the current situation in Victoria, there’s many uncertainties about the market and how much long term impact it may have on real estate industry across.
Whilst we do not have certainty yet over exactly when we will be able to make these payments to you, please know that when the restrictive measures are lifted by Victoria government and our position becomes more clear, we will be able to write to you again with our forward payment plans and will provide you certainty of our commitment in a new written agreement that will assure you of these balance payments and a payment timeline. We thank you for your patience to work with us during this time and we are proud to support you over the long term.
ANSWERING YOUR QUERIES – MOVING TO FIXED LEASING
In response to many customers’ enquiry, we have successfully secured fixed term tenancies for many owners have assisted them moving across to a standard fixed term leasing arrangement for 6 or 12 months, and some have already successfully moved across. Please reach out to our Customer Relationship Manager K if you wish to discuss this option in more detail – see below Kelly’s contact details. We understand that many of our customers desire to return to the rental guarantee arrangements of IF Suites at a future date, and yes we are certain that this will be possible and can review this option with you at the end of your fixed term lease.
KEEPING YOU UPDATED
We fully appreciate this is a challenging period for all, with the situation changing frequently, however we will keep you updated and will write again to you on or before the 31st November 2020.
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