Gov’t Urges Building owners to Not Terminate Tenant Contracts for Late Payment

• 26 March 2021
• Local News
• 1478 Views

The Cambodian government has called on all building owners to not terminate contracts or evict tenants in case they are unable to pay their rent during the COVID-19 crisis.

According to the official statement released on 25 March, the request also refers to the landlords of business buildings and factories.

Both landlords and tenants shall negotiate to delay payment and, if possible, shall adjust the payment rate, the statement added.

The request aims to ease the financial burdens for those affected by the COVID-19, as well as to restore and boost economic growth during and after the pandemic.

The statement once again called on all real estate developers to comply with the request of the Ministry of Economy and Finance and the National Bank of Cambodia on 22 March, which urged them to adjust their payment terms and help ease the financial burden of their buyers if needed. (Read more)

• Laws and Regulation