Storefronts in Ottawa’s Glebe neighbourhood are reflected in a sign indicating the temporary closure of a business to prevent the spread of COVID-19, on Tuesday, March 24, 2020. The pandemic has meant a slew of commercial renters — from the country’s smallest businesses to the behemoths — have had to have a tough conversation with their landlord about how they are unable to cover rent. THE CANADIAN PRESS/Justin Tang

Commercial rent relief applications open as feds encourage landlords to apply

Program would see government cover 50 per cent of the rent

The federal commercial rent relief program opened for applications Monday (May 25), as officials urged landlords to apply.

The Canada Emergency Commercial Rent Assistance (CECRA) will see government cover 50 per cent of the rent, with tenants paying 25 per cent and landlords forgiving another 25 per cent. Property owners must also offer a 75 per cent discount on rent for the months of April, May and June to qualify. Small business tenants must pay no more than $50,000 in gross monthly rent per location, generate no more than $20 million in gross annual revenues and have had a 70 per cent drop in revenues due to COVID-19. The application portal is available here: https://www.cmhc-schl.gc.ca/en/finance-and-investing/covid19-cecra-small-business.

Speaking at a Monday press conference, Treasury Board president Jean-Yes Duclos said landlords should apply for the program because if the evict tenants they will get no rental income, versus 75 per cent of the reduced rent from government and their tenants.

The program will be phased in day by day. Property owners with up to 10 tenants in B.C., Alberta, Atlantic Canada and Quebec can apply Monday, while other provinces and territories can apply throughout the week. Property owners in those provinces with more than 10 tenants can apply on Thursday, while the applications will be open to all regions on Friday.

READ MORE: Trudeau unveils forgivable loans for landlords in small business rent relief program


@katslepian

katya.slepian@bpdigital.ca

Like us on Facebook and follow us on Twitter.

Want to support local journalism during the pandemic? Make a donation here.

BusinessCoronavirus

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Comments are closed

Just Posted

New space secured for Sooke homeless

The shelter will be ready for residents on July 20

Victoria archery club says goodbye to outdoor range in View Royal

Province-owned View Royal property will house handyDART facility

Hotel workers gather in Victoria, demand right to return to work

Workers also asking the government to make sure employers don’t use pandemic to replace them

Sooke homeless camp to stay until a solution is found

To forbid Ed Macgregor camp would go against Canadian Charter of Rights and Freedoms

Horrifying video shows near head-on collision on Trans Canada

The video was captured on dash cam along Highway 1

UPDATE: Vancouver Island skydiving community mourns loss of one of its own

James Smith, 34, of Victoria, dies in Nanoose Bay incident

Elizabeth May endorses Furstenau in BC Greens race

Former federal party leader backs Cowichan Valley MLA

Greater Victoria Crime Stoppers wanted list for the week of July 7

Greater Victoria Crime Stoppers is seeking the public’s help in locating the… Continue reading

Fraser Valley woman complains of violent RCMP takedown during wellness check

Mounties respond that she was not co-operating during Mental Health Act apprehension

B.C. sees 12 new COVID-19 cases, no new deaths

Three outbreaks exist in health-care settings

Lost dog swims Columbia River multiple times searching for home

The dog was missing from his Castlegar home for three days.

COVID-19: B.C. promotes video-activated services card

Mobile app allows easier video identity verification

ICBC to resume road tests in July with priority for rebookings, health-care workers

Tests have been on hold for four months due to COVID-19

Most Read