The commercial property owner must:
own commercial real property which is occupied by one or more impacted small business tenants
enter (or have already entered) into a legally binding rent reduction agreement for the period of April, May and June 2020, reducing an impacted small business tenant’s rent by at least 75%
ensure the rent reduction agreement with each impacted tenant includes: a moratorium on eviction for the period during which the property owner agrees to apply the loan proceeds, and a declaration of rental revenue included in the attestation
An impacted small business tenant:
pays no more than $50,000 in monthly gross rent per location (as defined by a valid and enforceable lease agreement)
generates no more than $20 million in gross annual revenues, calculated on a consolidated basis (at the ultimate parent level)
have experienced at least a 70% decline in pre-COVID-19 revenues (at the entity level)
How do I calculate 70% decrease in revenue?
Compare April, May and June of 2020 to your revenues of April, May and June of 2019.
If your small business was not operating during April – June 2019, then compare your average gross revenues from April, May and June of 2020 to your average gross revenues for January and February 2020
How do I apply?
The application is done by the property owner. The owner will need to go on to the CMHC website and create an account which will give them access to the portal. Please reach out to your landlord if they have not yet done so already.
The portal will provide the owner with documents that will require review and signing by the owner, the tenant, and both. These documents include the property owner attestation, tenant attestation and the rent reduction agreement.
After the owner obtains the completed documents in collaboration with the tenant, they will be able to complete the application through the portal.
You will be notified within 2 weeks of your application.
What if I already paid my rent for April-May?
You will be reimbursed 75% of your rent if you have already paid or you can agree to reduce it from future rent payments.
When do I apply?
Applications are now open but you have until August 31 to apply.
해당조건이 어떻게 되나요?
Landlord는 아래 조건이 되야 신청이가능하다:
Commercial real property 을 갖고있고, 코비드로 인해 영향이 미친 스몰비즈니스 tenant가있다
Tenant와 4월-6월 렌트 75% 감소 계약서를 맺어야한다
해당되는 스몰비즈니스 tenant는:
매달 장소별로 $50,000 랜트가 넘지 않는다
$20M annual 매출 넘지않는다
코비드로인해 70% 매출 감소하여야 한다
70% 매출 감소 계산 어떻게 하나요?
2019년에 4-6월 영업을 하셨다면, 올해 2020년 4월,5월,6월 매출을 2019년 4월,5월,6월이랑 비교를 한다
작년에 영업을 안하신경우에는 4월, 5월, 6월을 올해 1-월 평균매출이랑 비교를 한다
신청은 어떻게 하나요?
이 프로그램은 사업을 하는 Tenant 혹은 Sub-Tenant 가 신청하는 것이 아닙니다. Landlord인 임대인이 신청하는 것으로 임대인이 결정하는 것입니다.
Landlord 가 신청할시, CMHC 왭사이트를 통하여 계정을 만든후 필요한 서류를 다운받는다 (Property Attestaion, Tenant Attestation, Rent Reduction Agreement). Tenant와 싸인받은후, 신청을 portal 통해 완성할수있습니다. 랜드로드가 매출감소 증빙자료를 요청할시 제공하여 합니다.
4월-5월 랜트를 이미 냈는데 어떻게 되는건가요?
랜트를 이미냈다면 프로그램 신청후, 그금액을 돌려받을것입니다. 또한 Landlord랑 얘기하여 다음 랜트를 그만큼 줄여달라고 할수도있습니다
현재 신청서 오픈입니다. 8월31일까지 신청할수있습니다.