• Last Updated:
  • Jun 15th, 2020 5:56 pm
Tags:
Newbie
Sep 13, 2010
14 posts
1 upvote
Toronto
I was willing to pay my landlord the remaining 25% aswell but my landlord didn’t agree. Only agreed to defer base rent portion for May and June. I still paid TMI.
Newbie
Mar 27, 2020
6 posts
3 upvotes
Do I compare

April 19 vs April 20
May 19 vs May 20
June 19 vs June 20

And all 3 of those have to be 70% decline?

Or is it

(April + May + June) 19 vs (April + May + June) 20?

I literally have 1 month where I have a 69.95% decline.....
Deal Addict
Dec 13, 2007
1586 posts
79 upvotes
Toronto
OhmLaw wrote: Do I compare

April 19 vs April 20
May 19 vs May 20
June 19 vs June 20

And all 3 of those have to be 70% decline?

Or is it

(April + May + June) 19 vs (April + May + June) 20?

I literally have 1 month where I have a 69.95% decline.....
I'm wondering the same. The wording seems to mean all 3 months combined. Also nowhere in the application you have an option to apply for just selected months. Weird, because Jun is just started. Let's say some one applied now, but Jun turned out to be good and 3 months combined are now at less than 70% decline. What's happen then?

In you case, print the report with just one decimal digit, not two,
Last edited by slavka012 on Jun 4th, 2020 11:23 pm, edited 1 time in total.
Deal Addict
Apr 24, 2017
1262 posts
599 upvotes
xrayxman wrote: This rent relief program is too complex...

Can Trudeau just give 50% of the gross rent directly to the impacted tenants? It will be much simpler.
That would be the smart and easy thing to do. The tenant submits the application with proof of rent paid and the 70% reduction. I have no idea why they have to make it so difficult.
Newbie
Sep 13, 2010
14 posts
1 upvote
Toronto
Was anyone here able to take advantage of this program?

I still think most landlords are not using this program.
Deal Fanatic
Jan 21, 2008
5549 posts
1685 upvotes
Our tenant has asked us to apply, what documentation should we ask for from our tenant re: the 70% decline? They are not in the restaurant business (which I know is struggling mightily). We are concerned about what happens if, later on government says it turns out the tenant's business didn't really decline by 70%, therefore we (landlord) are on the hook, etc or some legal situation. Seems like a lot of headache. We are reasonable people, we have often been very understanding about late rent in the past (even pre-Covid). A 75% reduction for 3 months would be tremendous for the tenant (since 25% comes from landlord, 50% from govt), but if they don't qualify for CECRA, there's just no way we could give them anywhere near that 75% reduction without CECRA (we would be OK with a 25% reduction for 3 months but there is still a mortgage on the property, we are small time not super wealthy people)

Top