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Entrepreneurs based in Prague can apply for rent discounts

Entrepreneurs based in Prague can apply for rent discounts

Tenants of non-residential business premises can submit an application for a 30% discount until 31 May

Throughout the past year, businesses have struggled tremendously. Some have seen a sharp decline in revenue while others have had no other choice but to permanently close. Understanding the severity of this, the capital of Czechia has offered support to entrepreneurs, in an effort to help them recover from the economic impact of the pandemic.

Discounted rent

On 9 April, the municipality of Prague announced that entrepreneurs who are based in buildings in the capital can now apply for a discount on rent until the end of May. Commenting on this, Councillor Jan Chabr clarified that entrepreneurs will have access to a 30% discount.

“We are fully aware of the current crisis situation associated with COVID-19, which has serious economic consequences for tenants of non-residential premises in the capital city of Prague, and therefore, we are always looking for ways to make it as easy as possible for them,” Chabr disclosed.

On its website, the City of Prague clarified that the 30% discount will only apply for the third and fourth quarters of last year. More specifically, the director of the property management department of the City Jan Rak explained: “The provision of rent discounts will be carried out in the form of an amendment to the existing lease agreement. A thirty percent discount calculated from the monthly rent paid for the third and fourth quarters of last year will be deducted from entrepreneurs’ rents in the coming months.”

How can you apply?

This discount applies to tenants of non-residential business premises whose activity has been significantly reduced as a result of the COVID pandemic. Those interested in applying for the discount can submit an application by filling out the form on Prague’s Real Estate Portal here.

Applications must be submitted by 31 May.  

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