In 2011, The Renovation Co-op developed a series of Discount & Rebate Programs that have been designed to help maintain competitive pricing for our member-Contractors and Architects.

Note: All Discount & Rebate programs offered through The Renovation Co-op (including the Subsidy Discount Fund) are fully managed and administrated by The Canadian Renovation Funding Program. see Funding Program.

The most significant of these discount & rebate programs is The Subsidy Discount Program, which is directly supported by a percentage of The Co-op’s revenue from monthly professional membership & administrative fees, along with additional contributions and support from various sectors of the construction and financial service industries across Canada.

How the Subsidy Discount Program works…

Each month, a limited amount of Subsidy Funds is set aside and placed into a  special Trust Account. Throughout the month, portions of these funds are utilized as “mini-grants” which are credited towards the contract price of selected projects on a case-by-case basis.

The amount of the “grant” approved  for each subsidy request is carefully determined, using a series of protocols related to the project itself, such as the type and scope of the work, the competitive nature of the type of job, geography, etc.

Funding managers maintain a vigilant watch on the availability of these funds throughout the month, in order to accommodate individual funding requests in a fair and balanced manner.

The member-contractor signs the contract with the homeowner for the final discounted price and is later reimbursed, or subsidized directly by the fund for the same, approved amount.

The benefits to both the client and the member-contractor are:

1- The client is only responsible to the member-contractor for the final, discounted contract price.

2- The contractor-member is quickly credited (compensated, or “subsidized”) with the same, discounted amount.

Note: This enables our member-contractors to maintain their existing, high standard of labour and materials, while still offering discounted pricing that they themselves do not have to pay for.

The Subsidy Discount Program supports our member-contractors by providing them with the ability to lower the price of the contract using 3rd-party funds, without having to use his or her own money, which almost always leads to a lower quality of service and/or materials.

In the following example, the lowest bid price, or Best Co-op Price is $26,500. The Subsidy amount made available for this specific project is $1,750. (For details regarding the Best Co-op Price, view The Renovation Co-op’s Estimating Procedures).

The final, discounted price agreed to in the example above is $24,750.

However, the contractor is later reimbursed (or subsidized) for the $1,750 by the Subsidy Program.

Subsidy Withdrawal Policy:

Upon completion of the Estimate Review conducted by a Co-op Client Service Rep, any subsidy funds that are offered as part of your estimate will be removed 5 Business Days following the review date (see  Standard Estimating Procedures)

Reason: When a member-contractor signs the final agreement with the client, the final price is reduced by the Subsidy amount.(As displayed in the sample)

The approved Subsidy amount is segregated and placed on “hold” for the 5 business days, pending a deposit or contract signature.

By setting a reasonable, mandatory subsidy withdrawal date, and with no deposit or contract signed by then, the funds are then “freed up” and placed back into the main Subsidy Fund, so that they can be used towards another project.

Supporting our Member-Services…

The Co-op’s subsidies & rebates enable our members to offer substantially discounted pricing to clients, without having to lower their own fees.

By having all discounts paid for by the Co-op’s Subsidy & Rebate Programs, our member-contractors and architectural specialists are able to maintain their same high standards of service and materials, without having to “cut corners”.

All subsidies and available rebates are automatically applied for on behalf of the project, following the completion of the bidding process. see The Co-op’s Estimating Procedures.

Regardless of the size and/or scope of the project, The Co-op’s Subsidy & Rebate programs increase the client’s ability to pay for renovations and/or architectural services, while still maintaining a high level of professional service.

In 2008, The Canadian Renovation Funding Program was established to supervise The Renovation Co-op’s complex system of Subsidies, Rebates and Loan Programs.

The program consists of a professional team of retired and semi-retired financial specialists, each having served in various areas of the Financial Services Industry, including Residential/Commercial Mortgage Financing, Investment Banking, Private Lending and Fiduciary Management.

The Funding Program has two major functions:

Subsidy Fund Management:

* Provides the approval, development, management and administration of all Subsidy and Rebate Programs on behalf of  The Renovation Co-op, including all Renovation Credit Accounts. (See Subsidy & Rebate Programs)

Free Loan Advisory Service:

* Provides each client with a personalized recommendation to a specific, Co-op-Approved Mortgage Broker (when requested by the client only).

* Provides current information regarding Affordable Housing Developmental Loan Programs offered by Federal, Provincial and/or local City Governments).

The Renovation Funding Program maintains a watchful eye over the availability of all subsidy and rebate funds, ensuring a fair balance of cash distribution for all projects throughout the month. The amount of funds for each individual project is approved on a discretionary basis, and is determined by the program’s Fund Managers on a daily basis.

Note: None of the Renovation Co-op’s incentive programs have been put in place for the purpose of becoming built-in, “hidden costs” to the client. In fact, the existence of these programs is one of the primary reasons why The Renovation Co-op is able to attract more “seasoned” and professional service providers from within the construction industry.

All subsidy and other incentive funds are collected from outside sources, including a percentage of monthly membership fees, along with contributions from within the construction sector and other related industries.

The Renovation Credit System:

When a client first contacts The Renovation Co-op,  a Renovation Credit Account is automatically set up (normally started with a “$0″-Balance).

Rebates & Credit Programs: When the client purchases  a service through a Co-op -Approved Professional Service Provider (not including General Contracting or Architectural Services), a Credit (between $1,000-$20,000) is added into the client’s Renovation Credit Account.

Sample Renovation Credit Account:

The standard, allowable amount of credit to be used is 2% of the Final Contract Price. (see Estimating Procedures)

However, each category of Renovations (eg. Basements, Kitchens, Bathrooms,etc.) is given its own “allowable percentage” to be used by the client’s Renovation Credit. For example, during any given month, The Renovation Co-op may announce that the “Allowable Percentage” for all Basement Finishing Projects will be 3%. This means that the client can use his or her Renovation Credit (if enough credit exists within the client’s account at the time) to deduct 3% from the Final Contract Price.

For example, if the client purchases a mortgage through a Co-op-Approved Mortgage Broker, a credit of $10,000 is added to the client’s account.

If the client buys or sells his/her home through a Co-op-Approved Realtor, a similar credit of $10,000 is added to the account.

Portions of the client’s Renovation Credit can be applied toward the price of a renovation or architectural contract (when performed by a Co-op member-contractor). Amounts drawn from Renovation Credit Accounts are based on a specified percentage of the final contract price.

The standard, allowable amount of credit to be used is 2% of the Final Contract Price. (see Estimating Procedures)

However, each category of Renovations (eg. Basements, Kitchens, Bathrooms,etc.) is given its own “allowable percentage” to be used by the client’s Renovation Credit.

For example, during any given month, The Renovation Co-op may announce that the “Allowable Percentage” for all Basement Finishing Projects will be 3%. This means that the client can use his or her Renovation Credit (if enough credit exists within the client’s account at the time) to deduct 3% from the Final Contract Price.

Sample of Estimate with Renovation Credit applied:

Note: Renovation Credit Account balances are completely transferable. To help you sell your existing home, we will issue a Certificate of Transfer to your buyer, who will then be able to utilize whatever leftover credit there is in your account and apply the balance towards future renovations.

Or, you can carry your balance with you and apply the funds toward future renovations to your next home. And if you once again purchase your new home or financing it through a participating mortgage broker and/or realtor, your Renovation Credit Account balance will be credited accordingly.

Architectural Rebate Program

When you purchase your drawings and permit processing through a Renovation Co-op Member-Specialist, you own and control your own set of drawings, without any obligation to purchase the actual renovations through The Renovation Co-op.

All architectural drawings are sold separately…and not blended into the contractor’s total price.

However, as an incentive to purchase your renovations through a Co-op member-contractor, the Co-op provides an Architectural Rebate of up to $1,500, which gets credited towards the contract price.

Sample Estimate with Subsidy and Architectural Rebate:

Note: Unlike approved Subsidy funds, there is no time limit or withdrawal period for using the Architectural Rebate. However, the renovation work eventually performed by a member-contractor must correspond with the architectural drawings you have purchased.

Government-Sponsored Loan Programs

In addition to role as administrator for The Renovation Co-op’s complex system of subsidy and rebate programs, The Canadian Renovation Funding Program constantly reviews and evaluates various Loans and/or Grant Programs that are offered through federal, provincial and local city governments.

The program keeps a watchful eye on current and upcoming programs that will have a meaningful, positive affect on transactions made between  The Co-op’s registered clients and its member-services.

Federal Programs

No currently, suitable Programs…but we’re looking!


No currently, suitable Programs

Local Municipal Programs

Laneway Housing Units

Affordable Housing Forgivable Loan Program

In conjunction with a recent Municipal Bylaw that allows for the retrofitting and/or construction of Garage Apartment Conversions and “Carriage Houses” that face onto rear Laneways, The City of Toronto has developed an upcoming Forgivable Loan Program scheduled to be released by May-June 2019

About the Forgivable Loan Program…

The Renovation Co-op is working closely with the City of Toronto to obtain as much information about this exciting new program before it is officially made public:

Essentially, if you intend to create a Laneway Rental Unit, the Laneway Forgivable Loan Program will offer a maximum loan of $50,000 provided that the rent never exceeds the City’s Affordable Housing Rental Guidelines. (currently approx. $1500 per month for a 1-2 bedroom rental unit).

If the unit’s rent never exceeds the maximum guidelines (which are adjusted annually) for a period of 15 years, the loan is completely forgivable.

Unfortunately, we have not yet been able to obtain more details, but here are some comments on what we know (Please Note: This is not to be treated as “official information”):

* Once the unit is rented, you will start receiving the full rental amount as immediate income (the payments for the loan will be waived).

* More privacy for the homeowner-the Laneway Rental Unit must be completely detached from the main house.