In our last update, we shared a five-point strategy for managing this unprecedented event, including transparent communication with your tenants.
Immediately following the government’s mandated social distancing guidelines and closure of non-essential businesses across Canada, McCOR connected with its tenants to understand their current financial situation and the impact that the pandemic has on their business.
The biggest uncertainty quickly became whether April rent would be paid or not, and what position would we take as landlords. With the latest Federal Government announcement on emergency commercial rent assistance (CECRA), it added another layer of complexity to the situation and arguably may have been brought forward too late.
Over the past week, we have undergone a survey of our 10 offices across the country on the breakdown on April rent collections.
If you want to learn about what we discovered, check out our news section to read the full article
Every business owner anticipates that their business may experience challenging times with the ebbs and flows of the economy. No matter how prepared we all feel we will be, no one could ever fathom this unimaginable time we are currently experiencing with the COVID-19 pandemic.
As we all anxiously await the end of this unprecedented global event and the recovery to business as usual, we can all take steps to ease some of the difficulties we are being faced with. Whether deemed an essential service or not, all businesses have had to deal with many challenges.
The Government of Canada and our respective Provincial Governments have many programs in place to help businesses and individuals as we weather this unique situation. In the heat of these uncertain times, many may be unsure where to begin.
McCOR would like to share a list that has been compiled by Miller Thomson of helpful information for our tenants in hopes of easing financial strain that many are attempting to mitigate.
We all can take steps towards helping our businesses endure this untimely global event.
We care about your health and safety!
In light of the announcement issued by the Ontario Government March 24 listing Essential Services, McCOR is taking further necessary actions to provide access to our buildings where specific services are noted as Essential Services to our respective communities. The health and safety of those needing these services and those still providing onsite security and life safety services for the continued care of the buildings are of the utmost importance to us. Access into McCor managed buildings may be limited until further notice. Each McCOR building will post appropriate directions to gain access to essential services. Those requiring access, as noted above, will be required to sign in/out with onsite Security.
During this ever-changing time amidst the COVID-19 pandemic, together we all can do our part to help flatten the curve and prevent the spread.
In these trying times the health and safety of our tenants, clients, employees and customers is our highest priority. At McCOR our efforts are guided by global experts, health authorities and the province and we continue to closely monitor the development of COVID-19 here and abroad. Over the last few weeks we have instituted the following protocols:
Ensuring additional Security and Life Safety measures are being taken during these changing times. We can all take measures to ensure our own safety as well as others around us. We respectfully ask that anyone showing symptoms of COVID-19 please remain at home and not to frequent public places as recommended by governmental authorities. Everyone’s collective cooperation can help manage the spread the COVID-19 and help flatten the curve.
During this every-changing COVID-19 development, McCOR is committed to keeping you informed as circumstances change through our website and social media.
Please stay safe and healthy.