FAQ’s

Co-op Costs

What are the monthly housing rates?

 

1 Bdrm Apt

   $778.00

2 Bdrm Apt

  $897.00

 2 Bdrm TH

  $998.00

3 Bdrm TH

  $1057.00
4 Bdrm TH

  $1096.00

Is there a damage deposit?

The Share Capital required by all members is like a damage deposit. Share capital is $1,600.00 per unit. It can paid all at once, or you can pay $800.00 when you accept a unit and then $67.00 month for 12 months. Share capital is returned at move out minus any maintenance costs that may apply.

Can I access subsidy?

As of June 2021, Members of Rainbow Housing will no longer be able to access the Rent Geared To Income government housing subsidy.

Are utilities included?

The member is responsible for gas and electricity and the co-op pays for water.

Questions About Applying

Are pets allowed?

Yes, two pets are allowed with size and breed restrictions. A pet deposit of 350.00 for the first animal and 300.00 for the second will be applied. You are required to submit immunzation records. Please see our pet policy for details. Pet Policy

Can I see a unit?

It is not the policy of the co-op to show units so members are not disrupted. There are rarely vacant units to show. Floorplans for the various units sizes are located on this website. Click here for more info on units.

How long is the waitlist?

Rainbow Housing’s waitlist is based on the day you applied, it is not a needs based list. The length of the waitlist depends on what size unit you are looking for. Our one and four bedroom lists are very long as we have limited supply of these sizes. Two and three bedrooms are shorter, however they could still be from 6 months to two years. 

What if I move or my number changes?

Please be sure to always keep your contact information up to date. Many applications are removed from our list because we could no longer reach the person.

What appliances are included?

The co-op provides a fridge and stove. Townhouses have hookups for washers and dryers, but the co-op does not provide these appliances. There is a laundry facility in the community centre on site.

Why a Co-op?

How is a co-op different from a traditional rental?

In a co-operative there is no landlord, as members jointly own and manage the co-op. Members have a say in the setting policies and bylaws, the maintenance of the co-op, and the future direction of the co-op. Rainbow Housing is governed by a board of elected members, and all policy and bylaw decisions need approval by a membership majority. Members vote on the annual budget at the annual general meeting. This self governance allows members a chance to affect the costs of the operation, which, in turn, impacts their housing costs.  Rainbow Housing adheres to the Co-operative Act of Saskatchewan and not the Residential Tenancy Act.

What do members have to do?

 Members are required to:

  1. Pay their housing charges on time
  2. Purchase a share in the co-op
  3. Attend general membership meetings
  4. Abide by the bylaws, policies, and procedures of the co-op
  5. Volunteer within the co-op

Housing charges are similar to monthly rent charges. These charges help to cover the mortgage, taxes, sewer and water. The co-op is a non-profit and housing is supplied at cost. Additional costs include an application fee when you apply for membership.

Purchasing a share in the co-op works just like a damage deposit. The share costs $1600.00 and is refunded after move-out, minus any carpet cleaning costs and/or damages to the unit. The share gives each adult member a vote at Rainbow Housing general meetings. Once you are offered a unit, you will have 10 days to pay the Share Capital to hold the unit. You can either pay in full at this time, or pay $800 and make arrangements to pay $67 per month for the remaining months. If you change your mind after this point, the $800 is non-refundable.

Attendance of the General Meetings are mandatory. The Annual General Meeting serves as an election of the board and the approval of the budget for the upcoming year. As a member of the co-op you are expected to attend.

Bylaws, policies and procedures of the co-op are the agreements voted on by the membership. These are rules that are binding. Violation of these rules may ultimately lead to the termination of your membership and housing agreement.

Volunteering within the co-op is one of the ways housing charges are kept lower. Yard upkeep, snow removal, neighbour support for those physically unable to do this, small administrative tasks, social committee work, and also being a member of the board are all ways members are expected to contribute to the running of the co-op.