Huron County will now have an asset limit imposed on applicants for rent support after some changes to the province's maximum household limits.
Housing Services Manager Christine Hoffman says when the Rent Geared to Income Housing program was first downloaded to every service manager, including Huron County, the areas were able to choose whether to set an asset limit or not. But after the provincial government has seen some inconsistencies across Ontario, it's now necessary for every area to have an asset limit.
“So Huron County at this time has decided to set an asset limit of $75,000, which means if somebody applied for rent geared to income and you have an asset of more than $75,000, you would not be eligible to go on the wait list,” said Hoffman.
Hoffman notes Huron County now looks at both asset and income and if someone has an income of over $34,000 and they're looking for a one-bedroom unit they would not be eligible for housing. But, she adds, the program is not meant to be punitive and there is a list of excluded assets.
“So things such as RRSPs where people invest their money or RESPs for their children for education, if they work in a trade and they have tools, those are excluded assets and there's a whole list of things that would not be included,” Hoffman added.
The change is not likely to affect anyone in Huron County that's currently applying for Rent Geared to Income. Hoffman says the limit was set at $75,000 because it was felt that would be fair and she doesn't believe it will be punitive to anyone applying for housing.