The new Canada Emergency Rent Subsidy will provide simple and easy-to-access rent and mortgage support until June 2021 for qualifying businesses and organizations affected by COVID-19. The Greater Langley Chamber of Commerce and the entire Chamber Network has been advocating since the beginning of the Pandemic to take the rent subsidy out of the hands of Landlords. The new rent subsidy will be provided directly to tenants, while also providing support to property owners.
The new rent subsidy will support businesses, charities, and non-profits that have suffered a revenue drop, by subsidizing a percentage of their expenses, on a sliding scale, up to a maximum of 65 per cent of eligible expenses until December 19. Organizations will be able to make claims retroactively for the period that began September 27 and ends October 24. A top-up Canada Emergency Rent Subsidy of 25 per cent is available for organizations temporarily shut down by a mandatory public health order issued by a qualifying public health authority –this is provided in addition to the 65 per cent subsidy. For further information please click here.