The package, to be split equally between the commercial and residential sectors, will help businesses whose revenue is down at least 30 per cent and renters who have lost at least 25 per cent of their income.

Commercial landlords will be able to apply for a land tax concession of up to 25 per cent of their 2020 calendar year, if they pass the savings on to tenants through a rent reduction.

Landlords must provide relief to businesses struggling under COVID-19 restrictions, and cannot increase their rent or terminate their leases.

Wagga's Amanda Myers owns Simply Yoga and Satin Touch Lingerie where she is in the unique position of being both a tenant and a landlord, as she rents her studios out to other yoga teachers and massage therapists.

She has been livestreaming her classes, in some cases for free or at a reduced cost, and has "easily" seen a decrease in revenue of more than 30 per cent at both of her businesses.

"Some people are paying, but it's definitely been more than a 30 per cent reduction in my own income. We're definitely in the category of what the government are asking," Ms Myers said.

Residential tenants will be able to access a suite of temporary relief measures including a six-month moratorium on forced evictions if they are in financial arrears because of the COVID-19 downturn.

Landlords and managing agents must enter into negotiations with tenants who are struggling to make payments due to the coronavirus prior to seeking a forced eviction.

Wagga real estate agent Peter Campbell, who manages mostly commercial and some residential properties, said people were "very uncertain".

"Nobody's really happy about it, but at least the government, state and federal, have said, 'Look, this is what we're going to have to do'," Mr Campbell said.

"The best outcome would be for businesses to stay open and keep paying full rent, but under the circumstances this is probably the only workable outcome."

Residential renters will be protected from eviction until the NSW Civil and Administrative Tribunal is satisfied that negotiations have concluded, with unpaid rent to accrue as arrears without tenants being "blacklisted".

Minister for Better Regulation and Innovation Kevin Anderson said the new rules were "not optional" and an interim 60-day moratorium had been put in place on new and existing matters being taken to the NSW Civil and Administrative Tribunal.

Mr Anderson also promised a $2.5 million boost for tenancy advocacy and advice services across NSW, which Tenants' Union spokesperson Leo Patterson Ross called "good news".

"These services will put the funding to immediate use given the pandemic has increased demand for support by at least 50 per cent across the state," Mr Patterson Ross said.

One Wagga renter, who has already lost about a quarter of her income, said the measures gave her "some certainty".

"It's knowing that you'll have a home for six months. It doesn't make up for the fact that I've lost income," she said.