New Interest Waiver Set to Ease Lease Burden for Tenants!

The Cabinet has sanctioned a 12-month interest waiver on state lease arrears, which will be in effect from September 1, 2024, to August 31, 2025. During this period, lessees are required to settle their rent arrears entirely without the burden of paying interest that has accumulated on these debts. There have been three prior interest waivers implemented in the years 2014-2016, 2018, and 2020-2021.