Realty Executives of Simcoe Inc. Brokerage
Broker of Record (705) 727-6777
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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:
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.
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:
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.
Call me if you have more details, or know more!