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ARTICLE · 02 JUNE 2020

Details Announced On The Canada Emergency Commercial Rent Assistance Program

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The Canada Emergency Commercial Rent Assistance program (the CECRA) will provide a 75 per cent reduction to the monthly gross rent of eligible businesses who are experiencing hardship due to COVID-19.

CanadaReal Estate and Construction
Serge Lakatos
Serge Lakatos
Paul Taylor
Paul Taylor
Adam Perzow
Adam Perzow
Catherine Guertin
Catherine Guertin
Nicole St-Louis
Nicole St-Louis
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The Canada Emergency Commercial Rent Assistance program (the CECRA) will provide a 75 per cent reduction to the monthly gross rent of eligible businesses who are experiencing hardship due to COVID-19.

What you need to know

  • The application portal opened on May 25, 2020 and the deadline to apply is August 31, 2020
  • The CECRA provides:
    • that the provincial and federal governments will jointly provide to the property owner a forgivable loan to cover 50 per cent of the gross rent owed by an Eligible Tenant (defined below) for April, May and June 2020;
    • the Eligible Tenant will be responsible for no more than 25 per cent of the gross rent payable during that same period; and

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