Rebate Amount: Not a rebate, a $24,000 forgivable loan
Get a $24,000 forgivable loan toward the construction of a rental unit in your home. Once completed, the unit must be rented out to a low-income senior, or person with a disability.
The purpose of the Residential Rehabilitation Assistance Program (RRAP) for Secondary/Garden Suites is to create affordable housing for low-income seniors and adults with a disability.
Some important things to keep in mind about the RRAP:
- Work carried out before the RRAP loan is approved is not eligible.
- You must rent the unit out to a low-income senior, or person with a disability, for 15 years
- There’s a cap on the amount of rent you can charge the tenant (for example in Ottawa the cap for a one-bedroom unit rented to one person is $815 per month)
Steps to Get This Rebate:
- Take a look at this sample application
- Fill out the RRAP application package
- Make sure you have everything by looking through this checklist
- To see all of the application documents, FAQs, and guides, go here
When the Rebate Ends:
For More Information:
List of telephone numbers for CMHC regional centres