The Canada Emergency Commercial Rent Assistance (CECRA) program offers commercial landlords forgivable loans for up to 50% of the monthly gross rent owed by eligible small business tenants who experience financial difficulties due to COVID-19 in April, May and June 2020 (this was recently increased by 12.5% in Quebec). The deadline to submit your application for CECRA is August 31, 2020.

Key considerations

  • Do you have all the relevant information required for each of your tenants to check their eligibility?
  • Do you have a system in place to track and upload the required agreement and attestation forms from your tenants?
  • Do you know how to calculate the monthly gross rent?
  • Do you know what the loan funds may be used for?
  • Are you aware that all qualifying tenants in a property must be included in one application and additional or missed tenants cannot be added later?
  • Have you considered your obligations in case any of your tenants misrepresent their eligibility?
  • Did you know provincial governments have been implementing eviction bans on landlords who qualify for the CECRA program but choose not to apply?

KPMG can help

At KPMG, we have developed an automated CECRA technology tool to assist you in determining whether you and your tenants are eligible for the CECRA program. This technology tool can also help you complete the entire application process, from collecting your tenant information to coordinating completion of rent reduction agreements with each of your tenants. We can help you avoid missing tenants and keep track of all your properties and tenants in one place. Benefits of this technology tool include:

  • Individual tenant portals for data collection
  • All required agreements and forms in one place for tenants to sign and upload
  • Tracking of all tenant questionnaires and signed agreements and forms