A Resource for
Landlords and Tenants
in British Columbia            

 

 

 

 

  Got a question?  

  Call the Residential Tenancy
  Branch - 1.800.665.8779

   

Home            For Landlords            For Tenants             Rent To Own             Financial Assistance             Contact

 

CMHC Rental Residential Rehabilitation Assistance (Rental RRAP)                                                         

The Rental Residential Rehabilitation Assistance Program (Rental RRAP) offers financial assistance to pay for mandatory repairs to self-contained units occupied by low-income tenants.

Financial assistance is in the form of a fully forgivable loan of up to 100% of the cost of eligible repairs. The amount you could receive is based on the cost of mandatory repairs and the number of eligible units in your rental property. If the cost of mandatory repairs is more than the maximum forgivable loan available, you, as the owner, will be required to cover the additional cost.

 

To receive a loan, you will enter into an agreement that places a ceiling on the rents that you may charge after the repairs are completed and limits rent increases during the term of the agreement. You must also agree to limit new occupancy to low-income tenants.

For more information, visit www.cmhc-schl.gc.ca/en/co/prfinas/prfinas_008.cfm or phone CMHC at (604) 737-4185 or 1-800-639-3938.

Helpful Hint - If you have any renovations done to your rental property while a tenant is living there, take lots of before and after pictures, and do another Condition Inspection Report with your Tenant in order to protect your investment.


"I own a property that currently has a low income tenant in it. I applied for the Rental RRAP program and was approved for $16,000 in renovations. It's a fantastic program...just be prepared to jump through some hoops to get the approval."      Lee B., Vernon BC

 

 

Home  ۰  About Us  ۰  Disclaimer  ۰   2011