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

Just Posted

Williams Lake RCMP seek assistance locating missing youth

Angel Emile has not been seen since Monday, July 7

Interior Health issues warning of increased overdose activity in Williams Lake area

H has released a number of safety tips and how to respond to an overdose should one occur

Pacific Coastal Airlines to increase service to Williams Lake last week in July

Flights will increase from three a week to six a week

RCMP investigating shots fired complaint north of Williams Lake July 5

Two suspects were arrested, one has since died due to a pre-existing medical condition

RCMP confirm homicide investigation underway near Quesnel

Police releasing few details four days after homicide occurred Monday, July 6

B.C. sees 25 new COVID-19 cases, community exposure tracked

One death, outbreaks remain in two long-term care facilities

VIDEO: Vancouver Island cat missing 18 months reunited with family

Blue the cat found at Victoria museum 17 kilometres from home

COVID-19 cases identified in Kelowna, after public gatherings

Those who were downtown or at the waterfront from June 25 to July 6 maybe have been exposed to COVID-19.

VIDEO: Alberta man rescues baby eagle believed to be drowning in East Kootenay lake

Brett Bacon was boating on a lake in Windermere when he spotted the baby eagle struggling in the water

Conservationists raise concerns over state of care for grizzly cubs transferred to B.C. zoo

‘Let them be assessed now before their fate is sealed,’ urges B.C. conservationist Barb Murray

B.C.’s COVID-19 job recovery led by tourism, finance minister says

Okanagan a bright spot for in-province visitor economy

National Kitten Day aka the ‘purrfect’ day to foster a new friend

July 10 marks National Kitten Day, a special day to celebrate all things kittens

Lower Mainland YouTubers claim to be Kelowna display toilet ‘poopers’

RCMP can not speak to legitimacy of video, will be investigating

Haida matriarchs occupy ancient villages as fishing lodges reopen to visitors

‘Daughters of the rivers’ say occupation follows two fishing lodges reopening without Haida consent

Most Read