Subsidies, Rebates
& Discount Programs
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Introduction
Regardless of the types and levels of projects undertaken by our member-contractors, the quality of workmanship, materials and service will always remain consistently high…no matter what.
But here's the problem...
How do our member- contractors offer competitive prices without reducing the quality of workmanship or materials?
The Renovation Co-op has developed its own series of Subsidy & Discount Programs that use 3rd-party funding to help our member-contractors reduce the price of your renovation project.
About our
Subsidy Discount Programs...
All Subsidies, Rebates and Grant Programs developed by The Renovation Co-op have been designed to help support its member-contractors by lowering the cost of individual renovation projects (regardless of size or scope).
This is accomplished through the use of special funding obtained from several industry-related sources. (See below)
For example, if you intend to convert your Basement into a rental unit, your project will be eligible for up to $5,000 in subsidies and internal grants that are applied against the final price.
The program provides such types of funds for most General Contractor-level projects (see General Contracting)
Where does the Money Come from?
Sources of Funding
The Subsidy Fund is supported through both scheduled and non-scheduled, 3rd-party payments and contributions as follows:
1. Member Fees
A large portion of the general Subsidy Fund is provided through a percentage of monthly administrative fees paid by the Co-op's Member-Service Providers. Such fees include member-access to the Co-op’s proprietary, renovation-related systems, such as its secured, cloud-based accounting and estimating systems, along with subscription fees related to member bidding systems, etc.).
4. Financial Services
Limited marketing support from the Financial Services sector throughout Ontario and selected areas across Canada.
2. Construction Industry
The Subsidy Program receives recurring contributions & fees from independent distributors, manufacturers and related businesses operating within the construction industry across Ontario.
5. Insurance Industry
Limited marketing support from the Financial Services and Real Estate sectors throughout Ontario and selected areas across Canada.
3. Real Estate Industry
Limited marketing support from the Financial Services and Real Estate sectors throughout Ontario and selected areas across Canada.
5. Grants & Rebates
There are numerous upcoming Federal, Provincial and Municipal
programs that will be available to all homeowners. Our organization will soon be facilitating the application process for homeowners who seeking such programs. Watch for these additional services within our website.
Need Financing?
Mortgage Broker Fee Credit
When you purchase a mortgage (any type of mortgage product, including a Line of Credit) through a Co-op approved mortgage broker, and your renovation project is performed by a member-contractor, a Mortgage Broker Fee credit up to $500 will be applied toward the contract price.
Mortgage Closing Fee Credit
When your mortgage closing is completed by a Co-op-approved Real Estate Law Firm, and your renovations are performed by a member-Contractor, the project will receive a Mortgage Closing Fee Credit of up to $300, which will be deducted from the final contract price.
$1,500 Architectural Rebate
When you purchase your Drawings and Permit Processing through a Co-op member-Architectural Specialist, and you later hire a Member Contractor to perform the actual work, you'fll be entitled to receive an Architectural Rebate up to $1,500, which will be credited toward your final contract price.
The Renovation Credit Program enables registered clients to earn and store substantial credits for renovations upon purchases made through the Co-op’s participating Professional Services (Mortgage Brokers, Realtors, Insurance Brokers, Financial Planners, etc.)
Upon such a purchase, an amount of between $500-$3,000 will be automatically added to your Renovation Credit balance.
Disclaimer:
Neither The Renovation Co-op nor its affiliated members or service providers are paid direct referral fees from such participating partner-services, unless such payments are specifically noted within any such agreements made between the client and the partner-service itself.
How Renovation Credit Is Applied to Your Estimate
Portions of your renovation credit can be applied against the cost of a project that is purchased through a member-contractor. (Applicable toward general contracting projects only).
Types of Credits & Rebates
*See disclaimer
Basic Subsidy Credit
Automatically applied for upon initial completion of an estimate for your renovation project.
Architectural Rebate
Up to $1500 towards renovations if drawings & permit are
purchased through a member-Architectural Service. (Renovations must be purchased through a member-contractor)
Loan-related Credits:
* Mortgage Purchase Credit:
When you purchase a mortgage through a participating mortgage specialist, an amount of up to $3,000 will be added to your Renovation Credit account balance.
* Mortgage Broker Fee Credit
Between $200-$500 will be subtracted from the final price of your renovation contract (if performed by a member-contractor)
* Mortgage Closing Fee Credit:
When you close your mortgage with a recommended law firm, an amount of up to $350 will be subtracted from the final price of your renovation contract (if performed by a member-contractor). Note: This credit is not directly paid for by the recommended law firm.
Real Estate-related Credit:
* Sale or Purchase of Property:
When you purchase or sell your home through a participating Realtor, an amount of up to $3,500 will be added to your Renovation Credit account balance.
* Disclaimer:
All subsidies, credits and rebates are fully and solely paid for through The Renovation Co-op's pool of Subsidy Funds. Credits are not paid for directly by participating specialists (eg Mortgage Brokers, Realtors, etc.) All credits that are applied toward the price of contracts arranged between the Co-op's member services and registered clients are determined on a discretionary basis and may be partially subject to availability at the time an estimate is presented to the client. In addition, some types of credit may also be subject to withdrawal from the estimate in accordance with time limitations indicated within the estimate itself. All credits are issued directly to the member-contractor.and are to be applied against the contractor-member's final price. Note: The Renovation Co-op assumes no responsibility whatsoever for any agreements or transactions made between the client and the recommended member-contractor. Nor does it assume any liability or responsibility for any losses or damages incurred to either party as a result of such transactions.
