DTI adjusts grace period for rent payments

The Department of Trade and Industry (DTI) released Memorandum Circular No. 20-29, adjusting the grace period for residential and commercial rents to start from the lifting of community quarantine or resumption of work/business.

Previously, the grace period was determined from the last due date during ECQ; now it begins after the quarantine is lifted or when tenants return to work/resume business operations.

Tenants have the option to pay cumulative rent in six monthly installments by executing a promissory note or letter indicating their intention to do so.