Included in everyone’s rent is heat, hydro, water and parking [if a spot is available].
Market Rent
Rents today are: the original amount [set by the CMHC when the building was first rented], plus the allowed annual increases [determined by the Landlord Tenant Board].
Rent-Geared-to-Income [RGI]
RGI rent is calculated as 30% of your gross annual income on the previous year’s tax filing [line 23600] up to a maximum of our current market rent.
Additional Optional Costs
There are extra costs for things like cable, internet and phone. Castle Arms has negotiated phone plans for CA1, CA2 and CA3. Plans for both home phone and internet plans have been negotiated for CA4.
If a Tenant adds an extra appliance, Castle Arms adds a small monthly fee [prorated through the year] to cover the additional electricity cost. The current fees are $5 per month for a single unit or $6 per month for a two-bedroom unit – per appliance. Some examples of extra appliances are: an apartment-sized freezer, air conditioner [stand up units only], electric fireplace, etc.