DIE PRESSE Features KNOETZL Guest Article on the Rent of Unusable Business Premises: The Many Pitfalls of Statutory Rent Reduction

High vigilance required for business tenancies in times of the Corona epidemic

This message to all businesses affected by the imposed closures and curfews is a ray of hope in a dark time of crisis:

According to § 1104 f ABGB (Austrian Civil Code), rental fees are (partially) waived if the tenant cannot (partially) use the rented premises “due to extraordinary circumstance”, e.g. “fire, war or an epidemic”. Tenants of business premises may reduce or even waive the rent for the premises concerned. Consequently, many businesses are bound to think they have one thing less to worry about.

However, a look at the fine print shows that the road to the enforcement of these reductions is fraught with peril. Bettina Knötzl and Dr Judith Schacherreiter shed light on these risks and their circumvention in their guest article in the prestigious daily newspaper “Die Presse”.

The article is available here for download in German language.

For further information please contact Bettina Knötzl or Judith Schacherreiter.