Naismith Co-op 10 York St Site

Information: Naismith Co-op, 10 York St. Site

Naismith Co-op is accepting application forms for:

7 two-bedroom apartments

Naismith Co-operative Online Application Form

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2 Bedroom Rent - $1,075.00 + Utilities | Maximum Household Income Limit - $51,500.00
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*Required Field
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1. PRIMARY APPLICANT
Date of Birth
Current Address
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2. CO-APPLICANT
Date of Birth
Current Address
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3. OTHER HOUSEHOLD MEMBERS
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Date of Birth
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4. UNIT
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What size of unit do you qualify for? For a two bedroom unit, the household must have a minimum of two people.
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5. HOUSING BACKGROUND
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How long have you lived at your current address?
If you have lived there less than 2 years, please give your previous address
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All selected applicants will have to provide written authorization for the credit check.
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6. HOUSEHOLD INCOME
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Please give us the monthly before-tax income (gross income) of each household member.
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Name of household member.
Employer or other source of income (for example, Social Assistance, CPP, OAS).
Gross income each month.
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You will need to provide proof of this income.
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2 Bedroom Rent - $1,075.00 + Utilities | Maximum Household Income Limit - $51,500.00
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SIGNATURES
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We are applying to be members of Naismith Co-operative.
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We understand that, if the co-op accepts us for membership and offers us a unit, we must pay a one-time membership fee of $20.00 for each member.
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We declare that all the information in this application is correct. We give the co-op permission to verify any or all of this information, and to do a landlord check and a credit check.
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We understand that Naismith Co-operative will use the information to:
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• contact us about this application
• determine our eligibility for housing and membership in the co-op.
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We understand that the information in this form and other information about us will only be disclosed to the board of directors, committees, staff, consultants and regulators of the Co-op on a need-to-know basis. We understand that the Co-op will destroy personal information about us that it no longer needs, subject to government requirements.
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Signatures of all household members over 16 years of age:
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There is no subsidy at this co-op. There are seven two-bedroom apartments for rent. The two-bedroom rent is $1,075.00 + utilities. The maximum household income limit is $51,500.00. This means that if your household income is more than $51,500.00 you are not qualified to apply.
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Income verification will be required for all members of the household over sixteen years of age before your application can be processed. Do not attached income verification with this form.
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A landlord reference and credit check would also be performed. Please provide a contact name, phone number and email for your current landlord.
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There is no parking at the co-op. Applicants with cars will have to make their own arrangements for parking.
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10 York Street is a 65 storey condominium at the corner of York Street and the Gardiner Expressway.

Housing Charges (rents)

Two-bedroom – $1,075.00 plus utilities

Occupancy Dates:

10 York is under construction

Two-bedroom apartments will be available early 2018 (the date could change)

Income Limits

The apartments are affordable housing and the applicant’s annual household income must be below the following maximums when they sign the housing agreement (lease).

Two-bedroom – $51,500 before taxes

Applicants must provide confirmation that their income is less than these income caps as part of the approval process.

*Members must pay the full housing charge – No subsidies are available.

Parking

Resident must make their own arrangements for car parking.

Bicycle Parking

Each apartment will have an assigned bicycle parking space.

Storage

Each apartment will be allocated a storage locker

Selection Process

Applicants must submit an Application Form (which can be downloaded by clicking here)

The Co-op will conduct a lottery. The application forms will be drawn and numbered and the applicants with the lowest numbers will be invited to an information session where they will be given more information about the co-op.

Application forms must be received by midnight on Wednesday October 4, 2017. Application forms received after midnight, October 4, 2017 will not be entered into the lottery and will not qualify for an apartment.

The Co-op will only contact the applicants who are short-listed to attend an information session.

Frequently Asked Questions & Answers

Please click on a question to view the answer.

No – There are no rent supplements available to give residents.  You must pay the full housing charge (rent) to the Co-op each month.

To find out more about housing co-ops, click on the following link.

https://co-ophousingtoronto.coop/about-co-operatives/

Clicking here will link you to an Application form. Submit the Application form before midnight on Wednesday, October 4, 2017 and your name will be placed in the lottery for an apartment.

No – only one Application form can be entered into the lottery per household. If it is determined that more than one application was submitted from a household, those applications will be disqualified.

No – only one Application form can be entered into the lottery per household. If it is determined that more than one application was submitted from a household, those applications will be disqualified.

The Co-op wanted a fair and transparent process to allocate apartments. The old system of a chronological waiting list resulted in the new affordable housing units going to people who were lucky enough to have heard about the Co-op early on. This isn’t fair. To ensure that everyone has an equal chance of getting an apartment, the Co-op decided to hold a lottery to allocate the apartments.

The lottery will be held by the end of October 2017.  If your name is selected you will be informed within two weeks.  The City will supervise the lottery to make sure it is fair.

There is no minimum income, but you will be asked  to provide proof to the Co-op that you will be able to pay the housing charge (rent) each month.

You have to submit an Application form and be selected through the lottery.

The City sets the maximum household income ($51,500) for applicants at the time they move in.  You must update your income verification before your sign the Housing Agreement (lease). If your income is higher than the City’s income cap then you will not be able to move in.

To qualify for a two bedroom apartment as a single person with shared custody or access rights to a child, the following conditions must be validated prior to occupancy:

a) you are either a parent or legal guardian of the child; and

b) you are subject to a Court Order or a domestic contract that is valid under the Family Law Act and that is in writing and signed by both parties and witnessed; and

c) the Court Order or domestic contract states that you are required or permitted to provide overnight accommodation for the child, at least 78 nights per year and the bedroom is required to provide adequate accommodation for the child.

No – Subletting and or short term rentals (Airbnb) are prohibited in the Housing Agreement (lease). If you sublet or let it out on short term rentals, you will be evicted.

None of the Co-op units have parking spaces.

Yes – each apartment will be allocated one indoor bicycle parking space.

Yes – each apartment gets a storage locker.

Members will pay for electricity, hot water and heating/cooling.  The apartment will have two meters.  One measures electricity and the other measures your consumption of hot water and heating/cooling.  The only utility included in the rent is water.

The cost of utilities will depend on how effective you are at conserving energy.

No. Your monthly housing charge (rent) includes all the condo maintenance fees.

Yes – The Co-op will insure the physical structure (the walls etc.) but you need contents’ insurance. You need to have content insurance in place before you get the keys.

Information about co-ops and how they operate can be found on the following web sites:

https://co-ophousingtoronto.coop/

https://chfcanada.coop

Yes – There are over 200 housing co-ops in the Greater Toronto Area.  For information about housing co-ops with open waiting lists go to:

https://co-ophousingtoronto.coop/co-op-open-waiting-lists/