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.
