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Garth Lyon Senior Mortgage Professional

Garth Lyon

Senior Mortgage Professional


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103, 901-8 Avenue, Canmore, Alberta

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What You Need To Know About The New Canadian Emergency Rent Subsidy (CERS)

12/2/2020

THINK OUTSIDE THE BOX: This subsidy will provide payments directly to qualifying renters and property owners, without requiring the participation of landlords.   

In response to the COVID-19 pandemic, the Government of Canada has announced the Canadian Emergency Rent Subsidy (CERS):

Overview
Businesses who have seen a drop in revenue due to the COVID-19 pandemic may be eligible for a subsidy to cover part of their commercial rent or property expenses, starting on September 27, 2020, until June 2021.

This subsidy will provide payments directly to qualifying renters and property owners, without requiring the participation of landlords.

If you are eligible for the base subsidy, you may also be eligible for lockdown support if your business location is significantly affected by a public health order for a week or more. Click here to learn more about the program.

Expenses You Can Claim and Qualifying Properties
The CERS covers a portion of each qualifying property, subject to certain maximums. The CERS is calculated on a property by property basis. 

Qualifying property can be owned or rented, and used for business. Excluded properties include homes, cottages, family residences. Click here to learn more about your eligibility

What Are Affiliated Groups?
Special rules and limits apply to groups deemed to be affiliated by family or control. Click here to learn how to apply

COVID-19 Information Hub
You can find more information, advice, and resources in our COVID-19 Information Hub. Click here to access the Hub.

We hope that you continue to stay safe during these challenging times.

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