Commercial Rent Relief is Coming - Trudeau Announces Canada Emergency Commercial Rent Assistance Program

Prime Minister Trudeau announced today that the Canadian government is working with the provinces and territories to develop a national program to provide support to help small businesses with their rent for the months of April, May and June. Mr. Trudeau and his provincial and territorial counterparts will hold a telephone meeting on Thursday evening to further discuss the program. Finance Minister Morneau also said today that the government would be offering loans, including forgivable loans, to commercial landlords who offer rent reductions to businesses. We look forward to providing more details on the Canada Emergency Commercial Rent Assistance Program when more information becomes available. In the meantime, commercial landlords and tenants should be mindful of these potential government benefits in any ongoing lease related discussions.