A new iteration of property expense relief will be more bountiful for many recipients than recent payouts of the Canada Emergency Rent Subsidiary, but fewer commercial tenants or owner-occupiers will qualify.

Relief measures will be more generous than previously announced for commercial tenants and owners/occupiers qualifying for the Canada Emergency Rent Subsidy.

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.

The Canada Emergency Rent Subsidy (CERS) will now be available until at least September 25, but at gradually declining levels after July 3.

The federal government reserved the option to adjust the funding levels after March 13 when it introduced the subsidy for fixed property expenses last November.

Relief helps to offset a year when RevPAR plummeted by 60 per cent relative to 2019 and the 12-monrh average hotel occupancy rate barely nudged above 33 per cent.

Loans of $25,000 to $1 million will be available through the Highly Affected Sectors Credit Availability Program (HASCAP), fully guaranteed by the Business Development Bank of Canada.

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.

Legislation to enable the Canada Emergency Rent Subsidy (CERS) received parliamentary approval late last week and an online application portal was expected to be operational for Nov. 23.

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.

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.