Rental Residential Rehabilitation Assistance Program (RRAP)
no fixed amount
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:
Funding is in the form of a forgivable loan. The funding amount is based on the cost of mandatory repairs and the number of eligible self-contained units in the project. The maximum amount for each self-contained unit is $24,000. With the exception of non-profit organizations, owners must contribute 25% of the total cost of mandatory repairs.
Continuous Intake
Eligibility:
Applicants must:
1. be New Brunswick private entrepreneurs, non-profit corporations, or housing co-operatives that are not receiving any government housing assistance,
2. own properties that operate as bona fide rental enterprises,
3. own properties that contain 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),
4. own 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, 5. complete all mandatory health and safety repairs,
6. apply a post-RRAP rent charge at or below levels established by this Department and CMHC.
Application Steps:
Applicants must contact the housing office of the Department of Social Development in their area for further details.
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.
Documentation Needed:
No specific documentation has been identified.
Other Things to Note:
The Program is funded by a cost sharing arrangement between the Government of Canada and the Province of New Brunswick.
About the author
Maurice
