Eligibility
308 Parkside offers below-market suites with rents set using established affordability guidelines and local market data. These homes will be offered through a random selection process. To participate, eligible households must complete an Expression of Interest.
Status in Canada
All household members must be one of the following:
-
Canadian Citizen
-
Permanent Resident of Canada (or have applied for permanent residency)
-
Refugee Claimant or Convention Refugee
Household Size Requirements
Each household must have a minimum of one person per bedroom. Spouses and Common-Law Partners must share a bedroom.
At least one member of the household must be 16 years of age or older.
One-bedroom
-
Minimum: 1 occupant
-
Maximum: 3 occupants
Two-bedroom
-
Minimum: 2 occupants
-
Maximum: 4 occupants
Household Income Requirements
Household income is based on Line 23600 of the Canada Revenue Agency (CRA) Notice of Assessment for all household members age 16 or older. Eligible household incomes at or below $115,460 are eligible for all unit types.
One-bedroom Suite
Number of units available: 10
Monthly rent: $1,610
Two-bedroom Suite
Number of units available: 6
Monthly rent: $1,900
Other Requirements
To be eligible, members of the household must not:
-
have an enforceable removal order against them
-
have an active eviction order against them
-
own property suitable for year-round occupation at the time of move in
Below-market Rent and Utilities
Monthly rents for below‑market homes at 308 Parkside are set using affordability guidelines and local area data to support long‑term affordability for local households within a moderate income range.
Rent Increases
Annual rent increases are subject to Ontario’s Annual Rent Increase Guideline. In Ontario the Guideline is based on inflation and the maxmium increase is 2.5%.
For more information please visit Residential rent increases | ontario.ca
Utilities
In addition to monthly rent, residents will be responsible for setting up and paying utilities (electricity and water) directly through a designated third-party provider.
Sustainable design at 308 Parkside and individual utility metering provide residents more control over their utility usage and monthly costs.
Tenant Insurance
All tenants will be required to carry maintain valid tenant insurance.