In a time when many Torontonians fear they might not be able to pay their rent, let alone put food on the table, amidst the coronavirus emergency in the city, a property management company is going above and beyond to show its residents that they're supported during this challenging time.
Greenrock Real Estate Advisors, an end-to-end real-estate, commercial, and residential property management company, announced it would be implementing several measures, including a $500,000 cash commitment, to support its residents and local communities.
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In light of everything going on, Greenrock has reassured its residents that no one should be concerned about losing their home as a result of this emergency and the many circumstances that are out of everyone's control.
"These may be early days as we address this emergency. As you've no doubt heard in the media, we might be housebound for many more weeks, and while all three levels of Government have promised various measures of support, it will take time for relief funds to be distributed and other measures to take effect," said Greenrock in a statement.
And to further assist its residents, Greenrock announced a number of new measures that will help them with everything from paying for groceries to their upcoming rent.
To provide some relief, Greenrock announced it will be spending $200,000 on grocery gift cards and each of its residential suites will be mailed a $100 gift card that will be redeemable at a local grocery chain.
The company also announced it has created a program whereby residents who are experiencing financial difficulty can apply their last month's rent (LMR) deposit as a credit towards their regular rent payments. Residents may choose to use a portion of this credit or the full amount.
Greenrock says it will also be donating $300,000 to a group of local charities to address concerns surrounding food security, mental health, domestic abuse, and senior care during this crisis
Finally, in addition to the company's already increased cleaning measures, as an extra precaution to keep the common areas of its buildings sanitary, Greenrock says it has treated all high-touch surfaces in its buildings with the GermGuard Treat and Protect Program, which kills up to 99% of germs on contact and works as a safety net between cleanings to reduce and protect against germs and bacteria for up to six months.
Justin Taylor, COO of Greenrock says the company had been struggling for weeks to find a way to help its residents during this time.
"We set out weeks ago looking for ways we could help. We chose gift cards for food stores as the need is so apparent. Our amazing Board paved the way for as much as $300,000 in charitable donations to local charities which would benefit the communities where we operate and we announced the first $100,000 yesterday. Our IMPACT committee is comprised of members of our team and they work with our residents to identify and gift monies annually to local charities. We also hired a professional charity strategist to work with us," explained Taylor.
When explaining the rent benefit, Taylor says he is now encouraging any of Greenrock's residents who need help to take advantage of the opportunity.
"There are no fees or charges. Basically it’s just a loan from you to yourself for at least 90 days and one which will not need to be fully repaid until next May 2021."
Here's to hoping that other landlords and condo boards use Greenrock as an example and offer their own residents the support they need during this trying time.
