The federal rent relief program for commercial properties has been extended, though there continues to be concerns raised about how it was rolled out — and what comes next.
For many businesses that have been able to access Canada Emergency Commercial Rent Assistance (CECRA), the program has been a lifeline through the pandemic. Extending relief until the end of September will help. However, as the weather cools and revenues begin to fall, many restaurants and storefront retailers are wondering how they will survive.
The Chamber, along with our chamber network across the country, is calling on the federal government to rethink its approach to commercial rent relief. Rent is one of the biggest costs for many businesses and this is an area that government can provide real help. A new program is also required for the many businesses that needed help but couldn't access CECRA because of its complexity or landlords who were unwilling to shoulder risk and revenue loss.