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

‘We have your grandson’ – Princeton seniors scammed out of thousands of dollars

Two elderly Princeton men are saying they were robbed of thousands of… Continue reading

VIDEO: Active graduate receives Summerland Secondary School’s top honour

Devyn Slade was presented with the Verrier Award and Matsu Memorial Scholarship

Four people rescued after floating past Penticton’s Skaha Bridge

Elevated water levels prompts safety message from local fire department

Bags of dog feces donated to Princeton charity thrift store

A Princeton Crisis Assistance Centre volunteer was made almost physically ill after… Continue reading

Penticton Regional Hospital issues fitness challenge in support of kidney treatment

Challenge to support Renal Department will continue until Aug. 30

All community COVID-19 outbreaks declared over in B.C.

Abbotsford manufacturer cleared by Dr. Bonnie Henry

B.C. First Nations vow to keep fighting after Trans Mountain pipeline appeal denied

Squamish Nation, Tsleil-Waututh Nation and Coldwater Indian Band made the application

Noose graffiti not tolerated by Vernon resident

Woman, son paint over hateful image painted on neighbourhood fence

‘Queue jumpers’ not welcome in B.C. as COVID-19 U.S. cases rise: Horgan

Premier Horgan said he’s heard concerns that Americans have stopped at Vancouver hotels instead of heading to their destination

HERGOTT: The right to resist unlawful arrest

Paul Hergott is a personal injury lawyer based in West Kelowna

Finale of seven-week food drive arrives at FreshCo Kelowna

The new grocery store has partnered with the organization for a food drive

US officer resigns after photos, connected to death of black man in 2019, surface

Elijah McClain died, last summer, after police placed him in a chokehold

‘We need to re-think our systems’: Kelowna mayor on RCMP Southeast Division statement

The RCMP held a news conference on Thursday, July 2 to address concerns in the force

Most Read