What is an Accessory Suite?
An accessory suite is a collective term for the various types of suites - secondary suites, garden suites, and garage suites. Suites play an important role in assisting municipalities with affordable housing challenges by adding to the supply of affordable rental units in the community and helping to facilitate the ownership of entry level housing
Secondary Suite Garage Suite Garden Suite
WHY WOULD I WANT AN ACCESSORY SUITE?
Mortgage helper: With rising housing costs, purchasing a house with an accessory suite or adding an accessory suite can make it easier to facilitate the ownership of entry level housing.
Aging in place: Owners on a limited income can remain in their own homes longer by renting an accessory suite. Also, having someone close by can help to provide a sense of security.
Deductible expenses: There are a number of expenses that can be deducted against rental income, including, advertising, insurance, interest, repairs and maintenance, and utilities.
Allowing families to stay together: An accessory suite may provide a home for an adult child, elderly parents, or a disabled relative.
HOW WILL THE TOWN HELP ME TO PAY FOR ONE?
The Town of Canmore offers funding opportunities for the development of eligible suites in the community. Successful applicants are eligible for reimbursement of up to 50% of the project’s eligible costs, to the maximum grant funding amount of $10,000 per applicant. Only five applicants will be accepted. A lottery system will be used to determine the successful applicants.
There will be four conditions placed on the grant funding provided to successful applicants:
1. Rental of the suite for a five year period
2. Reduced rental rate to 90% of current market rate
Market Rental Rate for 2016 90% of Market Rental Rate (Includes Heat)
Studio $1088 $979
One Bedroom $1364 $1228
Two Bedroom $1714 $1543
3. Rental of the suite to a local resident
In order to assist applicants in meeting the grant funding’s residency condition, Canmore Community Housing Corporation (CCHC) is willing to distribute an applicant's rental suite information to eligible tenants on their Rental Property Waitlist. Please view the application form (below) for more details. Please note, CCHC and the Town of Canmore do not take responsibility for the rental history of potential tenants. Waitlist applicants have been vetted for CCHC local resident eligibility criteria only and not for suitability to rent.
4. Registration of the Grant Agreement on title
HOW DO I KNOW IF SUITES ARE ALLOWED IN MY AREA?
Accessory suites are allowed or considered in many districts of Canmore. see the map pdf here (1.77 MB) . Please note, an accessory suite is only permitted within, or on the same property as, a single-family detached home.
I AM INTERESTED BUT I NEED MORE INFORMATION ABOUT THE PROGRAM!
Contact the Town of Canmore’s Planning and Development Department, for more information at:
Phone: (403) 678-1543
Hours: 8.30am – 4.30pm Monday – Friday