Commercial Lease Rent Deferral Program
To support small and medium-sized businesses, landlords are encouraged to defer rent payments from their commercial tenants for 3 months, spreading the deferred rent amount over the rest of the lease term.
If you’re deferring rent because your tenant’s business is closed to the public due to the related to the COVID-19, pursuant to the Public Health Act, you could be eligible for coverage (up to a maximum of $50,000 per landlord and $15,000 per tenant) if you can’t recover the deferred rent.
To be eligible for the COVID-19 Small Business Rental Deferral Guarantee Program, landlords must register with Finance PEI by April 20, 2020 by emailing email@example.com:
- the legal name of qualified landlord
- for each deferral agreement:
- the legal name of the qualified business
- the address of the qualified establishment
- total dollar amount of rent being deferred for the period of 1 April to 30 June 2020
For more information, read the Commercial Lease Rent Deferral Program documentation