Bill 192, Protecting Small Business Act, 2020 came into force on June 18. The goal of the act was to strong-arm qualifying landlords into the Canada Emergency Commercial Rent Assistance (CECRA) program.
COVID-19 showed me that, notwithstanding one’s legal rights, landlords and tenants can co-operate, especially since their survival was interdependent. This is especially true during the height of COVID-19.
The net profit from a rental property is much less than tenants, media and the government believe, and it's these same entities who collectively think residential landlords are rich and can afford to carry all the consequent losses caused by COVID-19.
During this unprecedented time, the rules, relief available and government statements are ever changing. And they’re changing because of the various impacts COVID-19 is having on how and if we can work and how we live.
REM (Real Estate Magazine) is Canada’s premier monthly magazine for real estate professionals. REALTORS®, real estate agents, sales representatives, brokers, owners, administrators, and other real estate industry stakeholders read REM every month for news, analysis, and commentary on Canadian real estate.
REM is independently owned and operated, and is not affiliated with any real estate association or board.