CORNERSTONE LANDING Q and A
Applications to be emailed pm@cornerstonerentals.ca
• Applications MUST be complete, ensuring not to skip any sections
• Application forms are available on the cornerstone landing website and hard copies available during office hours in the Community Services foyer (table by the elevators).
• If your application is selected by meeting all the qualifying criteria you will be contacted to book an appointment to bring in your additional documents and tour the style of suite that you are applying for.
* Due to the volume of applications submitted, we can contact only eligible applicants who meet criteria for tenancy.
QUESTIONS & ANSWERS
• Pets?
Only some units will be permitted pets – the building has a 40% pet ownership rate and only 1-dog or 1-cat per unit may be permitted. Once we reach the 40% pet occupancy we will begin a wait list.
*Youth suites do not allow pets.
• Smoking?
Cornerstone Landing is a smoke free building including vape, tobacco and marijuana – a designated smoking section is provided at the west/end of the property.
• Parking?
We have limited parking, some units will be provided the opportunity for a parking spot for an additional monthly fee. As we have limited space, space for seasonal vehicles won’t be a priority.
• Bike Storage
We have a bike storage room in the underground and those without a parking space will have priority in the bike parking as well as units without a patio alternatively if you are a unit with a patio you may store you bike neatly on your patio
What type of Housing Does Cornerstone Landing Offer?
Cornerstone Landing Offers Fair Market Housing.
Are You Eligible for Housing?
Eligibility is based on income and assets.
Minimum annual income criteria for units as follows:
$30,000 Studio
$50.000 1 bedroom
$56,000 2 bedroom
$68,000 3 bedroom
Income limits:
• For residential units with less than two (2) bedrooms, a gross household income that does not exceed the median income for couples without children in B.C., as determined by BC Housing from time to time.
For 2022, this figure is $77,430
E.g.: Studios: $35,000 - $77,430
1 Bedrooms: $50,000 - $77,430
• For residential units with two (2) or more bedrooms, a gross household income that does not exceed the median income for families with children in B.C., as determined by BC Housing from time to time.
For 2022, this figure is $120,990
2 Bedrooms: $57,200 - $120,990
3 Bedrooms: $68,000 - $120,990
Asset Limits
Applicants must have less than $100,000 in household assets.
Assets include, but are not limited to:
• Bank Accounts
• Investments (excluding RRSPs and RESPs)
• Equity in Property
• Equity in Motor Vehicles – First vehicle is exempt, equity in second and subsequent vehicles (current Canadian Red Book value) is included in asset calculation
Similarly to BC Housing- We Must Follow National Occupancy Standards
There shall be no more than 2 or less than 1 person per bedroom.
• Spouses and couples share a bedroom
• Parents do not share a bedroom with children.
• Dependants aged 18 or more do not share a bedroom
• Dependants aged 5 or more of opposite sex do not share a bedroom
• Studios can only be occupied by one person
How much are the rents?
The rents start at:
• Studio Suites Available Starting at $880.00 with 2 of those suites being Accessible - Studio suites available for eligible youth/young adult at $375.00
• One Bed Suites Available Starting at $1250.00 with 10 of those being Adaptable
• Two Bed Suites Available Starting at $1430.00
• Three Bed Suites Available Starting at $1700.00
Rents includes water and sewer. Electricity is additional and the suites are heated by electrical baseboard heaters.
PLEASE DIRECT ALL QUESTIONS OR SUPPORTING NEEDS TO THE PROPERTY MANAGER:
pm@cornerstonerentals.ca
604-262-0016