Question 1

How long is the lease term?

Accepted Answer

The initial lease term is 12 months. Afterward, the lease converts to month-to-month and is subject to Ontario’s annual rent increase guidelines.

Question 2

Is subletting or assigning the unit allowed?

Accepted Answer

No. Subletting or assigning below-market rental units is not permitted.

Question 3

How are the rents for these units set?

Accepted Answer

Below-market rents are established using affordability guidelines and local area data to ensure these homes remain affordable for moderate income households in the community. Annual rent increases will be subject to Ontario's Annual Rent Increase Guideline.

Question 4

Will residents need to report income annually?

Accepted Answer

No. Income verification is required only at the time of application.

Question 5

Do I need tenant insurance?

Accepted Answer

Yes. All residents must maintain valid tenant insurance.

Question 6

Is parking included at 308 Parkside Drive?

Accepted Answer

308 Parkside offers a limited number of resident parking spaces at no additional cost. Parking is subject to availability.

Question 7

Is there visitor parking at 308 Parkside Drive?

Accepted Answer

Yes, shared visitor parking is available.

Question 8

Is there air conditioning in the units?

Accepted Answer

Yes, each suite has AC with in-suite temperature control.

Question 9

What is a smoke-free community?

Accepted Answer

308 Parkside Drive is a smoke-free community, which means that residents and guests are not permitted to smoke or vape anywhere on-site, including inside any buildings, on balconies, terraces or yards, or in any indoor or outdoor communal areas.

308 Parkside Drive, Waterdown

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