We've been hearing from a lot of building owners that the federal rent relief program is too complicated, and might not help enough small businesses.
As written, the landlord would be required to:
- Forgive at least 25% of rent (while still paying 100% of commercial mortgages, utilities, and taxes)
- Sign a non-eviction clause
- Have a traditional commercial mortgage
- Vouch for the tenant about their eligibility for the program
We feel a better solution would be to help small businesses directly.
Here's us in the Edmonton Journal talking about it: https://edmontonjournal.com/business/commercial-real-estate/edmonton-commercial-landlords-say-federal-rent-relief-program-wont-help-small-businesses/wcm/e874eb08-b5d9-4879-b582-f847ac77c73b/