DTI adjusts grace period for residential, commercial rent

dti-adjusts-grace-period

The Department of Trade and Industry (DTI) released on Tuesday Memorandum Circular (MC) No. 20-29, granting a minimum 30-day grace period on residential and commercial rents, which will commence from the lifting of covered community quarantine.

The new memorandum amended the previous MC guidelines, which determined the start of the 30-day grace period from “the last due date of rent which fell within the ECQ.”

The DTI made the adjustments as the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF-EID) expanded the lockdown measures from enhanced community quarantine (ECQ) to modified ECQ, general community quarantine (GCQ), and modified GCQ.

As the quarantine measures ease back, more businesses and jobs resumed its operations.

But the trade department has different rules for tenants whose business or work was permitted by the IATF to resume their operations.

“The commencement of the grace period granted by its lessor shall be from the latest due date of the rent falling within the covered community quarantine. This shall apply regardless of whether or not lessee opts to go back to work or resume business operation,” the MC 20-29 read.

During the Laging Handa public briefing Tuesday, DTI Undersecretary Ruth Castelo said tenants have the option of paying the cumulative rents in monthly installment for six months.

“The requirement is they will execute a promissory note or any letter indicating their intention to pay in installment and give it to their landlord or landowner,” Castelo said.

 

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The new MC reiterates the non-enforcement of eviction from the start of the ECQ until the end of the grace period.

—(Source: Philippine News Agency)

Blayce Malaya

Content and Media Specialist at WhatALife! Born under the star sign Gemini, Blayce first discovered her love for writing through journal writing. Then, she stumbled upon fiction writing in 2016 and explored student journalism in 2018. Despite an amateur, Blayce continues to thrive and deliver quality content to her readers.