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COVID-19 - Waiving the obligation to pay rent?


1. general information on the cancellation of the obligation to pay rent

According to § 1104 of the Austrian Civil Code (Allgemeines Bürgerliches Gesetzbuch, "ABGB"), the obligation to pay interest on portfolio property is waived in the event of an extraordinary event that makes the use of the portfolio property impossible. According to case law, extraordinary events are elementary events that affect a large group of people and cannot be influenced by humans, so that no one can be expected to compensate for their consequences. 

The complete article is available in German.

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