Blog: Real Estate

No Need For a Mortgage – Update to the Canada Emergency Commercial Rent Assistance (“CECRA”) Program

Scrutinized criteria regarding the eligibility of the CECRA Program appears to have been subtly addressed in recent days.  The Canada Mortgage and Housing Corporation (“CMHC”) – the entity charged with administering the Program – had previously published criteria for eligible commercial landlords and tenants on their website. Among those conditions stood the requirement for the commercial property (which housed the affected commercial tenant) to have been used to secure a mortgage loan.

Previously, CMHC’s webpage contained a footnote next to this requirement with the following:

For those property owners who do not have a mortgage, an alternative mechanism will be…

Resolving Residential Tenancy Disputes during the COVID-19 Eviction Ban

The Ban

British Columbia has banned almost all evictions from March 30, 2020 during the COVID-19 state of emergency.

Now, these reasons to evict tenants are no longer valid:

non-payment of rent; cause (repeated breach of rental agreement); end of employment (e.g., caretaker); landlord’s own use of the property; and tenant no longer qualifying for tenancy (e.g., subsidized rental unit).

Limited exceptions allow landlords to still apply to end tenancies, where the tenant has:

significantly interfered with landlord’s or other occupant’s use of the property; seriously jeopardized health or safety of the landlord or other occupant; or caused extraordinary damage…

To Pay, or Not To Pay? – Vancouver Delays 2020 Property Tax Deadlines in COVID-Era

As Canadians are continuing to deal with the financial stresses brought on by COVID-19, municipal governments, like the City of Vancouver, are no exception. In a recent press conference, Mayor Kennedy Stewart stated that the City is losing millions every week in revenue due to the effects of COVID-19 and the corresponding social distancing measures. The City continues to experience 80-100% decreases in revenue streams areas such as parking, by-law fines, gaming and recreation centres.

Included in the City’s stream of revenue, valued at approximately $324 million, are the collections from annual property taxes. These are taxes paid by…

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