No rent increases until next summer, province says
The provincial government is freezing rent increases until July 10, 2021. The move extends the measure implemented in March through the Emergency Program Act and COVID-19 related Measures Act.
The rent freeze helps people who have lost income during the pandemic and are struggling to cover basic costs. However, it potentially burdens landlords who are facing rising costs because of inflation, maintenance or insurance increases.
Commercial Rent Relief
Businesses struggling to pay commercial rent can access the Canada Emergency Rent Subsidy (CERS). It replaces the poorly implemented Canada Emergency Rent Assistance (CECRA) program that was rolled out in the early stages of the pandemic.
The new program covers up to 65% of rent until Dec. 19, 2020 and, unlike CECRA, does not place liability and 25% of the program costs on landlords.
The rent freeze helps people who have lost income during the pandemic and are struggling to cover basic costs. However, it potentially burdens landlords who are facing rising costs because of inflation, maintenance or insurance increases.
Commercial Rent Relief
Businesses struggling to pay commercial rent can access the Canada Emergency Rent Subsidy (CERS). It replaces the poorly implemented Canada Emergency Rent Assistance (CECRA) program that was rolled out in the early stages of the pandemic.
The new program covers up to 65% of rent until Dec. 19, 2020 and, unlike CECRA, does not place liability and 25% of the program costs on landlords.
