Dear residents,
As the efforts to curb the spread of COVID-19 are underway, we hope you and your family are doing well under what are very challenging circumstances. We know that the stress of social distancing, lack of routine and uncertainty is continuing to mount for many of us. As a valued CAPREIT resident, we want to update you on all that CAPREIT is doing for our communities to navigate this unprecedented crisis. We have put together the latest information on rent related matters and the support measures we have implemented. As circumstances concerning COVID-19 are changing daily, we will continue to provide updates and resources in a timely fashion. Below, you will find relevant information on rent collection, government assistance plans and the measures we are taking at the building level to ensure safety for all.
It’s important for residents to note the following:
- No CAPREIT resident will be evicted for not making their monthly rental payment during this crisis.
- There will be no rent increases in any of our markets for the foreseeable future.
- We are asking all residents who can pay their rent to please do so as they normally would. For those residents who cannot pay rent, our commitment remains constant to working collaboratively with you on a case by case basis. As of April 1, we have implemented payment plans designed to give those in need some flexibility around their rent obligation.
We value your place in our community. If you have questions, we are here to help you.
Please visit our Covid-19 Resources Page for all the latest news and resources.
Update - April 2, 2020
Rent with us Remotely
If you are interested in rental opportunities, our Leasing Specialists remain available via telephone, live chat and email.
We also have virtual tours for most of our buildings. Check out our apartment videos, photos, floor plans of available units and pricing. Through your mobile device, computer or tablet we have what you need to find your next apartment.
You can even start the application process online! Choose your building, available unit and click on Apply Now.
Ian Bickis · The Canadian Press - Mar 30, 2020
Major landlords promise flexibility as COVID-19 eats into tenants' ability to pay rent
Major REITS say they are trying to help, but 80% of rental stock owned by smaller players
Some of Canada's biggest residential landlords say they're committed to working with tenants who have lost their job because of the novel coronavirus pandemic.
The signals come as efforts to contain the outbreak have led to huge business disruptions and surging unemployment that have made many Canadian worried about how they will pay next month's rent.
The speed of the shutdown in many areas of the economy has meant many people will likely be short on next month's rent, especially since government programs meant to help those who have lost their job won't start paying out until April.
The unprecedented times have led some tenants to call for an all-out rent strike, but major rental companies are urging those who are able to pay their rent to do so, while offering assistance to those who find themselves in need.
"If anybody's lost their job, we are there to support them, and there to work with them through the crisis," said Mark Kenney, CEO of Canadian Apartment Properties Real Estate Investment Trust.
"We are violently against evicting people that find themselves in a place of distress right now."
The company, which manages more than 65,000 residential rentals across Canada as well as in Ireland and the Netherlands, says tenants who need to should get in contact with their property manager to explain their situation, offer to pay what they can and discuss ways they might repay the rest over time.
Other major rental companies including Northview Apartment REIT, Greenwin Corp., MetCap Living, and Boardwalk REIT have also issued notices to tenants, asking them to reach out if they are in financial distress and have committed to various degrees of support.
"Right now, our message to our communities is that Greenwin is still here for them. We are committed to working with our residents as much as possible during this difficult time," said Greenwin Corp. CEO Kris Boyce in a statement.
Given the case-by-case nature of these appeals, it's not yet clear just how accomodative the companies will be. Landords are also limited on what immediate action they can take against tenants, since some provinces have suspended eviction tribunals during the crisis.
Kenney at Capreit says the company will be open to both deferring rent until tenants can pay, as well as rent relief in some cases.
He says, however, that he's worried about the roughly 80 per cent of landlords in Canada who are small-scale owners of units and who won't have the same flexibility.
"These are circumstances that we all have to show empathy in and understanding for. But equally, we need to keep the integrity in the system."
The call echoes what has been coming out of Canada Mortgage and Housing Corp., which has asked that people leave both rent and mortage relief to those who need it most while asking those who can to pay their bills.
Source: CBC News:
https://www.cbc.ca/news/business/rents-landlord-covid-19-1.5515071
A Message from FRPO - March 27, 2020
A Message from the Federation of Rental-Housing Providers of Ontario
TORONTO, March 27, 2020 /CNW/ - Our members sincerely care about our residents. We value you and your families. At this time of emergency, especially, we want you to be safe and secure in your homes. We know that many residents have had their incomes disrupted by the COVID-19 emergency. For some, it may be challenging to pay rent on April 1, 2020.
To take some of the stress out of the situation, we have the following advice on what to do if you cannot pay your rent due to the COVID-19 emergency.
- Reach out to your property manager by phone or online (to respect physical distancing).
- Explain the situation.
- Offer to pay what you can, if possible.
- Ask about government programs you might qualify for, and for the remainder, discuss a plan for how you could repay over time.
Remember, it is important to please pay your rent if you can. To keep buildings operating, clean, and safe, we need to pay our mortgages, operating costs and employees too.
We understand the situation is unpredictable. Some financial help is already on the way, and all levels of government have already taken steps to help maintain incomes or reduce costs:
- The Government of Canada has introduced the Canada Emergency Response Benefit which provides $2,000 a month for up to 4 months to individuals who have lost their income as a result of COVID-19. The federal government is also providing a 75% wage subsidy for small and medium-sized businesses so they can keep people employed.
- The Government of Ontario has set aside $148 million for assistance through Municipal Service Managers, which will use the Canada-Ontario Housing Agreement to direct more resources to tenants. The Province has also committed additional financial relief for low-income seniors, families with children and individuals with student loans.
- Some municipalities have offered grace periods for municipal payments such as property taxes, water and other utilities, and our members commit to take that into account in making arrangements and calculating arrears.
We are hopeful that these measures will help benefit our residents, but they may take time to reach those in need. We understand. We urge you to keep the lines of communication open with your property manager.
ABOUT FRPO
The Federation of Rental-Housing Providers of Ontario (FRPO) is the province's leading advocate for quality rental housing. FRPO represents over 2,200 rental housing providers who supply and manage homes for over 350,000 resident households across Ontario.
SOURCE Federation of Rental-Housing Providers of Ontario
For further information: Tony Irwin, President and CEO, Phone: 416-385-1100 x20, Email: tirwin@frpo.org