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MIL OSI Translation. Region: Russian Federation –

Source: Moscow Government – Moscow Government

For two years of the anti-crisis support measure the city has released 133 entrepreneurs from the obligatory preliminary payment for rent of capital non-residential premises at prolongation of contracts for a new term. This was reported by the Deputy Mayor of Moscow for Economic Policy and Property and Land Relations Vladimir Efimov.

From 2019, when renewing a lease agreement for non-residential premises, the capital’s businessmen must deposit funds for the last five months of the tenancy. This allows the city to minimize risks in the event of unfair behaviour by tenants and early termination of relations with them.

“Since March 2022, the city has exempted bona fide tenants of the capital’s real estate from paying a security payment when renewing a lease agreement. During this time, 133 entrepreneurs who occupy 286 premises with a total area of about 50 thousand square meters received such support. They saved almost 170 million rubles”, – said Vladimir Efimov.

Only businesses that have been in compliance with their obligations and not in arrears in the use of city facilities during the year prior to the request can receive an exemption from security deposits.

“In 2023 and in the first quarter of 2024, the city exempted from security payments 30 entrepreneurs who occupy 58 premises with an area of more than 11 thousand square meters. As a result, they saved 37.2 million rubles. In 2022, 103 tenants of the capital’s real estate received such support, and the amount of their savings amounted to almost 130 million rubles,” said the Minister of the Moscow City Government, Head of the Department of City Property.

Maxim Gaman.

In order to extend a lease agreement for non-residential real estate, it is necessary to apply for a state service “Issuance of an additional agreement on amendments to the lease agreement for immovable property owned by the city of Moscow, except for land plots and housing facilities” on the mos.ru portal.

More information on Moscow’s economic policy and property and land relations can be found on the following website economy.mos.ru.

Please note; This information is raw content directly from the source of the information. It is accurate to what the source states and does not reflect the position of MIL-OSI or its customers.

Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

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