Q&A on the Rental Assistance Program
The Agency for Co-operative Housing
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Coverage for Loss of Housing Charges
Date
24 August 2016
Being under-insured puts a co-op at risk. Insurance protects against a misfortune that strikes without warning. In a housing co-op anything can happen, from a fire - several major fires have occurred over the past few years - to a staff person or president gone missing, along with the entire capital
Your Insurance and Legal Grow Ops
Date
5 May 2017
Under new federal rules introduced in August 2016, landlords have little recourse if a tenant is growing licenced medical marijuana in their unit. There’s a risk, though, that insurance policies will not cover damages from any activities deemed ‘high risk’, and, in most cases, the operation of a
Q&A on Net Operating Revenue
Agency for Co-operative Housing
Section 61 Program (1973–1978)
Program Objectives
- To provide modest, affordable housing appropriate to the needs of low- and moderate-income families and individuals
- To house mainly families whose incomes may be too high for public housing but who cannot compete in the open market for housing
- To encourage the integration of
Section 95 Program (1979–1985)
Program Objectives
- To provide modest, affordable housing appropriate to the needs of low- and moderate-income families and individuals
- To produce housing at minimum cost by implementing appropriate cost controls
- To encourage approved lenders to provide capital for low- and moderate-income
Index-Linked Mortgage (ILM) Program
Program Objective
To provide assistance for co-operative housing to promote security of tenure for households unable to access homeownership.
Deep-Need Programs (1982-1989)
This general outline applies to these deep-subsidy programs, with exceptions noted: Prince Edward Island Non-profit and Pre-86 and Post-85 Urban Native.
Program Objectives
To provide modest, affordable housing that meets the needs of low-income families and individuals (under the Urban-Native
CMHC’s Federal Community Housing Initiative survey
Date
14 November 2018
Canada Mortgage and Housing Corporation (CMHC) invites all federally-administered housing providers to complete a survey which will help inform the development of options for the Federal Community Housing Initiative (FCHI) Phase 2 that will be implemented starting April 1, 2020. Federally
New S61 Mortgage Prepayment Deadlines
Date
20 December 2018
For a limited time, S61 co-ops can apply to pay out their high-interest Canada Mortgage and Housing Corporation (CMHC) mortgages without penalty. To do so, they will have to qualify for a loan from the private market where they will enjoy the benefit of lower interest rates. (Loan applicants will be
Tip of the Month
Capital Reserve Balance
61% of Agency clients hold a capital reserve balance of at least $6,000 per unit. By almost doubling the amount from 2007, co-ops are nearly twice as ready to meet their future needs.