Prince Charles will once again let some of his tenants in the Duchy of Cornwall go rent-free as they recover from the impact of the coronavirus crisis. The Duke of Cornwall announced that he will offer another round of rent abatement as farmlands and other businesses in this region are still reeling from the lockdown's economic fallout.
The heir to throne said that he will begin taking applications from commercial tenants in Cornwall who will be qualified to take advantage of the rent-free period. In the spring, Prince Charles also offered the same rent holiday scheme as Cornwall braced for a quiet season with no tourists.
There are 21 counties under the Duchy of Cornwall in England's southwest. This land is where Prince Charles earns his private income as the heir. He uses the money from this tenancy for his charity work, as well as for funding the lifestyle of his children, Prince William and Prince Harry, and their families.
Prince Charles said that he was encouraged to offer another round of rent abatement because he was feeling "demoralized" when he heard that some small businesses in Cornwall were still struggling. However, he is uplifted that despite the hardship, other businesses continue to support each other and that's what inspired him to also help out.
He cited The Brace of Butchers shop for serving meals for families who can't eat three times a day or the Hall and Woodhouse pub that delivers hot meals for the healthcare workers in Cornwall. The Prince of Wales also said that some services in the Duchy of Cornwall remained open despite the risks because their business are essential to the movement and flow in a community. Prince Charles said that farmers especially need the deliveries to continue.
The royal also said that he is quite proud of the Cornwall community because when the locals became sick with the virus, others took over to tend to their farms and business so that their neighbor could recover.
Prince Charles is the longest-owning landlord of the Duchy of Cornwall. His income from these lands for 2019 increased by 3%. However, the Duke of Cornwall is expected to be hit by the coronavirus impact as well come next year's financial review.
When the right time comes, Prince William will inherit the Duchy of Cornwall. The Duke of Cambridge has actually been training with his father in the last few years in managing this real estate business.
