The Province has applied an asset limit to rent-geared-to-income (RGI). As a result, starting March 1, 2024, Toronto households receiving RGI assistance must report certain things of value (assets) during their annual RGI rent review.
What you need to know if you are an RGI tenant living in Toronto Seniors Housing:
- If you are 16 or older, you must let Toronto Seniors Housing know about certain valuable things (assets) you have at your annual RGI rent review.
- If you get support from Ontario Works (OW) or the Ontario Disability Support Program (ODSP), you do not have to share this information.
- The City of Toronto has put together a list of assets (see below) that you must report, as well as ones that are exempt. Exempt assets do not need to be reported and will not count toward your asset limit. This list will also be included in your annual RGI rent review package.
- If your household has assets that are not exempt, and the value of these assets is over $150,000, you may no longer be eligible for RGI.