Market Housing & Rent Subsidies

Affordable Market Housing

Affordable Market Housing is designated for people who have low-to-moderate incomes, and who are not be eligible for subsidized housing.

Household Requirements

Seniors, families with one or more dependents, or persons with disabilities. (link to previous page)

Income

To be eligible for our market rent housing, your total household income must fall within the median income figures as determined by BC Housing. At January 2024, these figures were:

·       between $37,100 and $82,310 for a one bedroom apartment

·       between $38,500 and $128,000 for a two bedroom apartment

·       between $42,000 and $128,000 for a three bedroom apartment

RENT SUBSIDIES are available for people who need financial assistance to pay their rent.

Household Requirements: seniors, families with one or more dependents, or persons with disabilities. (link to previous page)

 

 

Income Limits

 

Subsidized Family Housing   You may qualify for subsidized family housing if your family’s total annual income (not including GST rebates and Child Tax Credit) is at or below the Housing Income Limits (HILs) set annually by BC Housing. These limits  represent the income required to pay the average market rent for an appropriately sized unit in the private market. At January 2024, these limits were:

 

  • For a one bedroom apartment:  between $37,100 and $82,310  per year

  • For a two bedroom apartment: between $38,500 and $128,000 per year

  • For a three bedroom apartment: between $42,000 and $128,000 per year.

Subsidized Senior Housing  You may qualify for subsidized senior’s housing if your total annual household income is at or below:

·       $37,100 for one bedroom

Subsidized Housing for Persons with Disabilities   You may qualify for subsidized housing if your total annual household income is at or below:

·       $37,100 for one bedroom

Eligibility Requirements

Provided other requirements are met, Life Cycle gives preference to residents of the City of Powell River and the qathet Regional District. 

Applicants and tenants at all LCH properties must permanently live in British Columbia, and must also be Canadian citizens, refugees or otherwise lawfully admitted to Canada.

Life Cycle does not provide support services. All adult tenants must be capable of living independently, which includes maintaining their personal health and well-being in a self-contained living unit, fulfilling tenancy obligations, keeping their units tidy and clean, and maintaining appropriate relations with neighbours.

Asset Limits

If you have assets of more than $100,000 you cannot live at any Life Cycle’s properties.  Assets include property, stocks, bonds, mutual funds, cash, real estate equity (net of debt) and business equity in a private incorporated company including cash, GICs, bonds, stocks or other investments.  Proof of assets is required from all applicants.

Pets

Tenants may have one of: a cat, a small dog, up to 3 small caged animals, or a small fish tank.  Pets must be disclosed and approved before the tenancy agreement is signed. No exotic pets allowed.

Subsidized Housing

Subsidized Housing units are available for people who need financial assistance to pay their rent.

Household Requirements

Families are defined as households with a minimum of two (2) people, including at least one dependent child.

  • Families may not live in a one bedroom apartment

  • Seniors are age 55 or older, or a couple where at least one person is age 55 or older. Seniors must live in a one bedroom apartment.

  • Persons with disabilities must be able to live independently and qualify for a disability pension or are eligible for the disability tax credit.

Income Limits

To be eligible for subsidized housing, an applicant’s gross household income must be below the Housing Income Limits (HILs) set annually by BC Housing. These limits represent the income required to pay the average market rent for an appropriately sized unit in the private market.

Subsidized Family Housing

You may qualify for subsidized family housing if your family’s total annual income (not including GST rebates and Child Tax Credit) is at or below:

  • $38,500 for 2 bedrooms

  • $42,000 for 3 bedrooms

Subsidized Senior Housing
You may qualify for subsidized senior’s housing if your total annual household income is at or below:

  • $37,100 for one bedroom

Subsidized Housing for Persons with disabilities
You may qualify for subsidized housing if your total annual household income is at or below:

  • $37,100 for one bedroom

AFFORDABLE MARKET HOUSING

is designated for people who have low-to-moderate incomes, and who are not be eligible for subsidized housing.

Household Requirements

  • Families are defined as a one or two adults plus one or more dependent children.  Families may not live in a one bedroom apartment

  • Seniors are age 55 or older, or a couple where at least one person is age 55 or older. Seniors must live in a one bedroom apartment.

  • Persons with disabilities who can live independently and qualify for a disability pension or are eligible for the disability tax credit.

Income

To be eligible for our market rent housing, your total household income must fall within the median income figures as determined by BC Housing. At January 2024, these figures were:

  • between $37,100 and $82,310 for a one bedroom apartment

  • between $38,500 and $128,000 for a two bedroom apartment

  • between $42,000 and $128,000 for a three bedroom apartment

Asset Limits 

If you have assets of more than $100,000 you cannot live in Life Cycle’s market rent units.  Assets include property, stocks, bonds, mutual funds, cash, real estate equity (net of debt) and business equity in a private incorporated company including cash, GICs, stocks, or bonds.