MANILA, Philippines — The total amount of commercial and residential rents that fall due within the duration of the coronavirus lockdown may be paid in installment for six months, Malacañang said Monday.
Presidential spokesperson Harry Roque said the amortized payment option is included in the newly-approved Department of Trade and Industry (DTI) guidelines for payments for residential and commercial rents amid the COVID-19 pandemic.
Roque also stressed that lessors should still give a 30-day grace period for rent payments under the general community quarantine (GCQ).
“Now, iyong cumulative amount of rents po, iyong sumatotal na babayaran na nasa ilalim po noong period na covered by CQ (community quarantine) shall be equally amortized in six months following the end of the 30-day minimum period,” Roque said in a televised press briefing in Malacañang.
(The cumulative amount of rents — the total of all payments that fall due within the period covered by the community quarantine shall be equally amortized in six months following the end of the 30-day minimum period.)
“So ‘gives-gives’ po ang bayaran over a period of six months ‘no, without interest, penalties, fees and charges. Kinakailangan lang po na iyong mga nangungupa ay magbigay po ng promissory note or letter doon sa nagpapaupa,” he added.
(So payment may be done in installment over a period of six months, without interest, penalties, fees and charges. Tenants only need to provide a promissory note or letter to their lessors.)
The Palace official also clarified that the payment of rent should start 30 days after the lifting of quarantine.
If the tenants’ employer and/or business have been permitted to operate during the quarantine period, the grace period will start from the date that such employment or business was allowed to resume.
“Iyong 6 months amortization period po shall continue to apply to rents na hindi po siya naging due earlier than March 17, 2020 and not later than the date permitting the lessee’s employer or businesses to operate,” Roque said.
(The six months amortization shall continue to apply to rents, which due date is not earlier than March 17, 2020 and not later than the date permitting lessee’s employer or business to operate. )
No eviction for failure to pay the residential or commercial rent due may be enforced from March 17, 2020 when ECQ took effect until the end of the grace period granted by a lessor to a lessee, Roque added.
Under the DTI guidelines, all unpaid rents during the quarantines shall also not incur interests, penalties, fees, and other charges.