CECRA
Canadian Property Management
CERS uptake falls short of potential
Removing landlords from the application process hasn’t necessarily made the Canada Emergency Rent Subsidy (CERS) more accessible for commercial tenants experiencing pandemic-related financial stress.
Canadian Property Management
Ontario extends ban on commercial evictions
Commercial evictions are still on hold in Ontario for qualifying tenants experiencing pandemic-related financial stress. A new regulation, enabled through 2020 budget legislation, extends the protections.
Canadian Property Management
CERS draft legislation awaits adoption
CERS will deliver direct rent support to qualifying tenants without the need to work though their landlords. As a direct subsidy, unlike CECRA, no loan agreement is required.
Canadian Property Management
New subsidy tagged for fixed property expenses
Qualifying commercial tenants and businesses operating in owned premises will be eligible for direct subsidies of up to 65 per cent of their fixed property expenses through the new Canada Emergency Rent Subsidy.
Canadian Property Management
Ontario adds two-month reprieve for rent arrears
Provincial intervention in the commercial sector is limited to tenants who meet the prerequisites for Canada Emergency Commercial Rent Assistance, but whose landlords have not applied for the relief.
Canadian Property Management
Stop-gap September CECRA coverage offered
Canada Emergency Commercial Rent Assistance will be offered for a sixth month. The announcement comes eight days after the portal for new applications for the relief program appeared to be closed.
Canadian Property Management
CECRA now closed to new applicants
With the August 31 deadline for first-time applications for Canada Emergency Commercial Rent Assistance (CECRA) now passed, the three-month program that evolved into five months of relief is closed to new recipients.
Canadian Property Management
Pandemic-related litigation brewing in Quebec
Commercial real estate specialists are noting a recent Quebec superior court decision with interest, suggesting it could become a beacon for other tenants seeking rent relief.
Canadian Property Management
Unallocated CECRA funds behind August extension
As of July 30, it’s reported that 63,000 qualifying businesses or not-for-profit organizations had been collectively approved for about $613 million in commercial rent relief.
REMI Network
Automated tool makes CECRA application easier
KPMG in Canada has launched a new automated tool to help commercial landlords apply to the Canada Emergency Commercial Rent Assistance (CECRA) program.
Canadian Property Management
Ontario to amend Commercial Tenancies Act
Following similar actions in B.C. and Alberta, the Ontario government will temporarily halt evictions of tenants eligible for Canada Emergency Commercial Rent Assistance (CECRA).
Canadian Property Management
Commercial landlords decry blame shifting
REALPAC characterizes the landlord-tenant dynamic as a chain of economic stress, with many commercial landlords likewise suffering a drop in revenue and financially beholden to their lenders.
REMI Network
B.C. invokes terms for CECRA-eligible landlords
The move is in step with one of three recommendations the Canadian Federation of Independent Business is promoting to support businesses dealing with COVID-19-triggered financial stress.
Canadian Property Management
Alberta polls commercial landlords and tenants
The Alberta government is surveying commercial landlords and business tenants about their COVID-19-related financial stresses.
Canadian Property Management
CECRA applicants urged to prepare documentation
Potential participants can begin to prepare ahead of registration opening next week, following instructions that have been posted on Canada Mortgage and Housing Corporation’s website.
Canadian Property Management
Details of CECRA program rollout still emerging
The CECRA program is voluntary. Not all eligible landlords will necessarily take advantage of this program for various reasons.
REMI Network
CUI starts “Bring Back Main Street” campaign to help businesses
The Canadian Urban Institute, along with a growing coalition of partners, has launched the Bring Back Main Street campaign to help small businesses.
