COVID-19: The City of Geneva waives the rent of its commercial tenants

As part of the measures designed to support the economy, the Administrative Council (AC) has decided to waive payment of rent for the month of November 2020 for all tenants benefiting from a commercial lease (excluding depots and parking spaces) with the Gérance immobilière municipale (GIM).

This exoneration is granted on condition that the rent, excluding charges, does not exceed CHF 7,000. Tenants forced to close by order of the State Council are exonerated without limitation. The measure concerns approximately 670 commercial lease holders among 700 such tenants in the City of Geneva in the relevant category.

Support for the economy

“This decision is in line with the general measures designed to support the economy that the Administrative Council must take in this crisis situation, with the 2nd wave of the COVID pandemic facing Geneva expected to have a major impact on the local economy,” explains Alfonso Gomez, Administrative Councillor responsible for the Department of Finance, Housing and the Environment (DFEL).

The cost of this exceptional support measure is approximately CHF 1.2 million. It will be limited to one month for tenants who have not been ordered to close their premises. It should be recalled that in March 2020, the AC took the decision to waive payment of rent for all tenants who had been ordered to close their premises by the Federal Council, resulting in a loss of earnings of approximately CHF 720,000 per month.