We recognize that affordability has a lasting impact on the health, well-being and economic vitality of our communities. Grounded on some of the most affordable rents in Canada, Boardwalk remains committed to providing the best product quality, service, and experience to our Resident Members. Our two largest markets of Edmonton and Calgary provide an example of our current affordability with average rents equating to approximately 20% of the average renter’s household income resulting in exceptional value and sustainability in housing for our Resident Members.
(1) Real median total household income (before taxes); renter households; Boardwalk weighted average net occupied rents at Jun All Housing Types. Source: Statistics Canada, Canadian Income Survey 2012-- 22.
Since 1999, Boardwalk’s Resident Members benefit from our self-imposed rent protection which sustainably limits rental rate adjustments for renewing Resident Members. Boardwalk will eliminate or reduce rent increases for any Resident Member who can prove financial hardship.
Between 2016 and 2021, we have provided $225 Million in discounts to our Resident Members. With major Canadian cities such as Vancouver and Toronto seeing $3000+/monthly rents on 2 bedrooms, our rents continue to be approximately 20% below our 2014 occupied rent adjusted for inflation.
IN-HOUSE SUBSIDY PROGRAM AND ADVOCACY
At Boardwalk, we believe everyone deserves a place to call home.
As an advocate of social responsibility, a significant number of units continue to be committed to address the need for affordable housing. Boardwalk continues to offer an internally-mandated, self-regulated rent assistance program (the “Internal Subsidy Program”) under which eligible Resident Members who are experiencing financial hardship are offered rental forgiveness, a reduction in rental increases and/or a rental subsidy.
While $150,000 of Boardwalk’s annual budget is allocated to the program, we also continue to collaborate with agencies across Canada to provide affordable housing to those in need.
*We encourage those in need of house subsidy to explore all subsidy programs available.
Civida Offers Temporary Rent Assistance Benefit (TRAB)
Need help with rent? If you are in a working household with low income or in between jobs, support is available.
The Temporary Rent Assistance Benefit is intended to help eligible tenants afford their rent while they stabilize or improve their situation.
Civida administers the benefit to the following communities: Barrhead, Bon Accord, Clyde, Duffield, Edmonton, Fort Assiniboine, Fort Saskatchewan, Gibbons, Holden, Innisfree, Josephburg, Legal, Mannville, Morinville, New Brook, Radway, Redwater, Ryley, Sherwood Park, Smoky Lake, Spedden, Spruce Grove, St Albert, Stony Plain, Thorhild, Tofield, Vegreville, Vilna, Waskatenau & Westlock.
Learn more: https://lnkd.in/gdyWHME
- Has lived in a Boardwalk property for a minimum of one year.
- Is in good standing and has a perfect payment history.
- Has received a rental adjustment in the past 6 months.
- Monthly rent, including the rental adjustment (of all Resident Members on the lease) is more than 40% of their gross household monthly income.
- Is not over-housed for the number of people residing in their unit (i.e.: 1 Resident Member residing in a two-bedroom suite = over-housed).
- Is not concurrently receiving any other rental incentives (free cable, Internet or other monthly monetary rental incentive).
- Has applied for Government Subsidized Housing, or Housing for Seniors.
- Is enrolled in the Boardwalk Pre-Authorized Payment Plan or has applied.
- Collective personal assets of Resident Member’s on the lease must indicate financial hardship.
How to Apply for Rent Assistance
- Approach the site office to request an application form;
- Complete the application form and attach required supporting documents;
- Return the application and supporting documents to the site office;
- Once received the package is reviewed.
- If the application is incomplete:
- a letter is sent to the Resident Member outlining what remains to be provided for the application;
- If the application is complete, and all documents have been provided:
- the application is reviewed and processed;
- A letter is sent outlining the approval terms, or the reasons for the application does not meet the assistance criteria
- Once a revised and approved lease has been signed and returned to the community manager, an internal subsidy becomes active on the effective date indicated in the letter to the Resident Member.
- If the application is incomplete: