The city of Montreal recently released 2 programs to help and encourage homeowners to update their properties. Montreal wants to help you Renovate, revitalize and improve the quality of your property. Check out “the major residential renovation program” and “renovation a la carte program” to get more info on how you can be eligible.
Renovate from top to bottom!
- Renovate all the components of your building in need of repair: structure, foundations, electricity, plumbing, cladding, etc.
- Opt for a complete demolition and reconstruction of your building, if necessary.
How is the amount of financial assistance established?
The amount of financial assistance and authorized rent increases are calculated based on the cost of work as established by the Ville de Montréal.
Additional aid from Hydro-Québec may be available to help you improve your building’s energy efficiency. You will receive additional information on this topic when your file is being reviewed.
Is there a minimum amount required for the work?
Yes: The costs to renovate the building and to upgrade it in compliance with applicable codes and by-laws must average at least $15,000 per dwelling unit.
Revenue Québec also offers a program called “Rénovert“, with a tax credit of up to 10,000$. Works for this program include roof replacement, replacing doors and windows, beefing up the insulation in your attic space and others. Not only will you get a tax credit for implementing these eco-friendly projects on your property, but you are also more likely to save money on future heating and cooling costs.