New Rent Relief Program Announced to Replace CECRA
October 15, 2020 - Tony Anderson
Some good news for commercial tenants: the red tape which plagued the Canadian Emergency Commercial Rent Assistance (CECRA) program has been reduced in favor of an easy-to-access application process that replaces the system of numerous prescribed documents required under CECRA.
On October 9, the Federal Government announced details regarding relief to commercial tenants who have experienced reduced revenues due to the Covid-19 pandemic. This new program will become the successor to the CECRA program originally announced in May of this year and officially now concluded as of September 30, 2020.
In its place, the Canada Emergency Rent Subsidy (CERS) will…
Categories: Commercial Real Estate, COVID-19, Real Estate