Property owners eligible for the Covid-19 financial compensation benefit due to loss of revenue from the lockdown will receive the whole sum, as the amount will be tax-free and cannot be seized by authorities.

According to provisions in an amendment set to pass through the Greek parliament, the monetary compensation of the property owners for the obligatory “haircut” of the November rents amounts to 50% on the loss of the landlord’s income.

The obligatory “haircut” of the rents stands at 40% and concerns all the companies that were forced to shut down based on an administrative order due to the lockdown but also the affected companies based on the expanded list of Activity Code Numbers.

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It also concerns the rent of the main residence for the employees who are placed in suspension of employment contract and the students for their student residence where at least one of the parents has been suspended from work. The amount of compensation for the landlord will be deposited directly in their bank account while in the original form of the measure the compensation was offset by other tax debts and amounted to 30% of the rent loss.

In the lease declaration (“COVID declaration”), the details of the lessor, co-lessor, lessee as well as the data of the real estate, are recovered from the last submitted “Declaration of Real Estate Lease Information”.

Furthermore, the lessor must fill in, as appropriate, the following information:

a) Use of rent, choosing one of the following cases:
Home of a dependent student
-Main residence in which the tenant is an employee and his employment contract has been suspended
-Main residence in which the spouse / Part of the Cohabitation Pact (MSS) of the tenant is an employee and his employment contract has been suspended
-Commercial property
b) The monthly rent before the reduction.
c) The amount of rent after the reduction.
d) The month to which the reduction relates.