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A new provincial order strengthens the federal commercial rent program by preventing businesses from suddenly being evicted.
Photo by Chung Chow
Province strengthens commercial rent program
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A new provincial order protects BC business from sudden eviction due to unpaid rent.
Thanks to the order, which falls under the Emergency Program Act, eligible businesses whose landlords choose not to apply for the federal rent assistance program will be protected from evictions due to unpaid rent payments through to the end of June. The order also restricts the termination of lease agreements and the repossession of goods and property.
“We heard from small businesses that they need us to help fill a gap that has left some of them unable to get the support they need,” said Finance Minister Carole James. “We’re listening to small businesses and have their backs. Preventing eligible landlords from evicting tenants can encourage landlords to apply for the program and give some temporary relief to businesses who have been hardest hit by the pandemic.”
The federal rent relief program, which launched May 24, provides relief for small businesses experiencing severe financial hardship due to COVID-19. It offers forgivable loans to eligible commercial property owners as long as they comply with program terms and conditions.
Property owners must offer a minimum of a 75 per cent rent reduction for the months of April, May and June.
The emergency order restricting evictions is effective immediately.
To apply for the Canada Emergency Commercial Response Benefit, visit: https://www.cmhc-schl.gc.ca/en/finance-and-investing/covid19-cecra-small-business
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