Rental Residential Rehabilitation Assistance Program (RRAP)
$36,000.00
Loan
Description:
The Rental Residential Rehabilitation Assistance Program (RRAP) provides financial assistance to owners/landlords for mandatory repairs to self-contained units that are substandard and rented to low income households.
Comments on Funding:
The amount you may receive is based on the cost of mandatory repairs and the number of eligible self-contained units in the project. The assistance is in the form of a forgivable loan. The maximum amount you may receive for each self-contained unit is $36,000. With the exception of non-profit organizations owners must contribute 25% of the total cost of mandatory repairs. All approved applicants must enter into a rental agreement to ensure that rents remain affordable to low-income occupants during the earning period of the loan.
If mandatory repairs cost more than the maximum amount available, you must provide the difference. All mandatory health and safety repairs must be completed.
Continuous Intake
Eligibility:
Applicants must:
1. be a private entrepreneur, or by a non-profit corporation or housing co-operative that is not receiving any government housing assistance.
2. have one or more self-contained units, rented or intended to be rented to occupants with incomes below the established “income ceilings” set by the Province (this Department) and Canada Mortgage and Housing (CMHC)
3. The post – RRAP rent charge will be at or below levels established by this Department and CMHC.
4 have a property that is at least five years old and lacks basic facilities or requires major repair in one of the following areas:
– structural
– heating
– electrical
– fire safety
– plumbing
Application Steps:
Applicants must contact the regional office of the Department of Social Development at 1-833-733-7835.
Documentation Needed:
No specific documentation has been identified.
About the author
Maurice