(Published on - 5/27/2020 5:25:21 PM)
CECRA – Canada Emergency Commercial Rent Assistance
As of May 26 2020, applications will be accepted through the Canada Mortgage and Housing Corporation (CMHC) website.
Here is the website to start your application:
The CMHC expects a large number of applications.
To manage this volume, the intake of applications will be staggered based on the size and location of the commercial property. Property owners can submit their applications according to the following timetable:
- Monday, May 25: Property owners who are located in Atlantic Canada, British Columbia, Alberta, and Quebec, with up to 10 tenants who are eligible for the program.
- Tuesday, May 26: Property owners who are located in Manitoba, Saskatchewan, Ontario, and the Territories, with up to 10 tenants who are eligible for the program.
- Wednesday, May 27: All other property owners in Manitoba, Saskatchewan, Ontario, and the Territories.
- Thursday, May 28: All other property owners in Atlantic Canada, British Columbia, Alberta, and Quebec.
- Friday, May 29: All property owners across Canada.
This program is for small business tenants that are paying less than $50,000 per month in gross rent, with annual consolidated revenues of less than $2 million, and that have experienced at least a 70 per cent drop in pre-COVID-19 revenues. It will also be available to non-profit and charitable organizations.
How it Works - CECRA
Rent Reduction Agreement, Property owners must enter into an agreement with each tenant to confirm the reduction in accordance with the program terms and conditions.
Tenant Information, tenant information needed includes: contact details, registered business name, number of employees, consolidated revenues, lease area and the monthly gross rent for the period of April, May and June 2020.
To Qualfiy, impacted small business tenants are businesses that:
- pay no more than $50,000 in monthly gross rent per location
- generate no more thatn $20 million in gross annual revenues.
- has experienced at least a 70% decline in pre-COVID-19 revenues.
- Tenant to sign an attestation to their eligibility with the program.
I Currently Registered to give my Commercial tenants rent relief and went to the page, registered on the First day. I did receive a username! by email....that worked.
Still waiting for my password that was suppose to be text to me? Never came.
- Made a phone call, but busy...busy...busy....
- "Forgot password" link, did not work either??
- Only thing I can suggest is patients.
Call me if you have more details, or know more!