CECRA

CERS draft legislation outlines new commercial rent relief program

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.
direct subsidies to help tenants and business owners cover fixed property expenses

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.
Ontario extends eviction prohibition for commercial tenants in rent arrears due to COVID-19

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.
September CECRA coverage

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.
CECRA now closed to new applications for commercial rent relief

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.
Quebec landlords and tenants ensnared in pandemic-related litigation

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.
Unallocated CECRA funds necessitate program extension

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.
freeze on rent

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.
Ontario to amend Commercial Tenancies Act to temporarily halt evictions of tenants qualifying for CECRA

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).
Commercial landlords decry the blame shifting of eviction prohibitions

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.
B.C. prohibits CECRA-eligible landlords from evicting tenants

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.
Alberta commercial landlords and tenants invited to respond to survey on COVID-19 related financial stresses

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.
CECRA applicants can follow CMHC instructions to prepare documentation ahead of registration

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.
Canadians now fill half of BOMA International executive officer positions

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.
Bring Back Main Street

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.
Commercial leasing specialists flag some potentially cumbersome details in commercial rent relief program

Canadian Property Management

Vague or cumbersome details flagged in OCECRA

Commercial leasing specialists suggest landlords may prefer to stick with rent deferral agreements they have already negotiated.
Rent relief program targeted to mortgage commercial properties

Canadian Property Management

CECRA tied to mortgaged commercial properties

Commercial landlords must agree to reduce rents by 75 per cent and halt evictions for April, May and June. In turn, CMHC will channel the forgivable joint federal-provincial loan directly to their lenders.