On April 24, 2020, the Prime Minister announced that the federal government reached an agreement in principle with all provinces and territories to implement the Canada Emergency Commercial Rent Assistance (CECRA) for qualifying commercial property owners and small business tenants. As part of the federal government's economic response plan to COVID-19, the CECRA is intended to provide much-needed rent relief for small businesses. Over the last several weeks, various tweaks and updates to the CECRA have been implemented. Property owners can now apply for the CECRA through the Canada Mortgage and Housing Corporation (CMHC). The application is available online through the CMHC website as of May 25, 2020. Property owners can apply on a specific day of the week depending on which province their rental property is located.
As of May 25, 2020 the registration portal is now open but to manage volume they are staggering the registration dates by region:
- Monday - Property owners in Atlantic Canada, BC, Alberta and Quebec, with up to 10 eligible tenants
- Tuesday - Property owners in Manitoba, Saskatchewan, Ontario and the Territories, with up to 10 eligible tenants
- Wednesday - All other property owners in Manitoba, Saskatchewan, Ontario and the Territories
- Thursday - All other property owners in Atlantic Canada, BC, Alberta and Quebec
- Friday - All
For more information visit the Canadian Mortgage and Housing Corporation (CMHC) site here.
Originally published 25 May 2020
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
