Important information regarding your commercial rent
RENT DEFERRAL AGREEMENT
The ability of many businesses and the cultural sector to generate revenue has been negatively impacted by the recent Order and many are left wondering how they will pay their bills.
Government is encouraging landlords to defer rent for their tenants.
Two rent deferral agreement forms are attached.
Rent Deferral Agreement – Net Lease | Rent Deferral Agreement – Gross Lease
Instructions on how to complete these forms:
- Fill in name of Landlord
- Fill in name of Tenant
- Add date from existing Lease
- Fill in names in signature blocks
- Landlord to sign
- Tenant to sign
- PDF forms are Ok
Uncollected Rent gets added to future rent payments and amortized, that is, paid off in instalments over the remaining term of the Lease.
Please see the PDF below for more details on support being offered by the government.
Supports for Businesses by Government – As of March 26th, 2020