Ontario renters can now apply for the one-time, $500 top-up to the Canada Housing Benefit.

Promised as part of an NDP-backed Liberal affordability plan, a bill became law last month that brought in both this rental boost for low-income Canadians as well as the first federal dental-care benefit.

The program’s application portal opened on Monday and will remain open until March 31, 2023.

If you are a Toronto renter looking for additional assistance, here's what you need to know about the top-up and other rental assistance programs.

WHAT IS THE HOUSING BENEFIT?

The Liberals announced the one-time $500 federal boost to the existing Canada Housing Benefit program in the fall, pledging to help those eligible cover the cost of rent as it continues to rise nationwide.

Inked into the NDP-Liberal deal, the federal government committed to see the top-up rolled out in 2022, with the potential to renew it in the years ahead "if cost of living challenges remain."

The program is set to cost $1.2 billion, $475 million of which was included in the 2022 federal budget.

WHO IS ELIGIBLE?

This is a program for low-income renters with adjusted net incomes below $35,000 for families, or $20,000 for individuals who pay at least 30 per cent of their adjusted net income on rent.

Applicants have to be paying rent for their own primary residence in Canada, and need to apply on their own behalf.

In order to receive this $500 payment to help cover rent, applicants need to confirm they:

• Have filed their 2021 income tax and benefit return;

• Are at least 15 years of age as of Dec. 1, 2022;

• Are a resident in Canada for tax purposes in 2022;

• Have their principal residence in Canada as of Dec. 1, 2022;

• Have paid rent for their own shelter in 2022; and

• Have paid at least 30 per cent of their 2021 adjusted net family income on rent in the 2022 calendar year.

To apply, you do not have to receive other housing benefits, such as the original Canada Housing Benefit, which is co-funded and delivered by the provinces and territories.

The federal government estimates that approximately 1.8 million Canadians, including students, will be eligible to receive this rent support.

HOW CAN RENTERS APPLY?

Applicants logging on to their CRA "My Account" or using the direct online form to apply need to be ready to provide some basic information. This includes their address, who they have paid rent to, and how to contact that person.

For those without access to the online systems, the CRA has set up a dedicated line at 1-800-282-8079 with agents that are able to help people complete applications over the phone.

The CRA is highly recommending signing up for direct deposit as the fastest and easiest way to receive this funding, noting that the estimated wait time for payments is five business days if signed up for direct deposit, whereas it could take 10 business days to receive a cheque by mail.

Applicants are being asked to keep any relevant documentation to back up their application in case the CRA comes calling in the next six years to validate their eligibility. This includes tax slips, rental property receipts, and landlord contact information. Applicants found to be ineligible will be required to repay the benefit.

ONTARIO RENTAL ASSITANCE PROGRAMS

The Canada-Ontario Housing Benefit (COHB) is jointly funded by the provincial and federal governments and “provides households with a portable housing benefit to assist with rental costs in the private housing market.”

“This provincially administered benefit is available to eligible priority groups who are on, or are eligible to be on, the Centralized Waiting List for Rent Geared-to-Income subsidized housing,” says the program’s website.

“The COHB pays the difference between 30 per cent of the household’s income and the average market rent in the area. For recipients of social assistance, the COHB will pay the difference between the shelter allowance and the household’s rent and utilities costs.”

The benefit, while aimed at helping low-income renters, is not open to the general public, however priority is given to people experiencing homelessness, survivors of domestic violence and human trafficking, Indigenous people and people with disabilities.

RENTAL ASSITANCE IN TORONTO

The City of Toronto has a Rent Bank grant program which “provides support to Toronto residents who are behind on their rent or need help with a rental deposit.”

“A partnership between the City of Toronto, Neighbourhood Information Post and Local Access Centres, Toronto Rent Bank grants ensure that low-income individuals and families are able to stay in their homes and avoid homelessness,” the city says on its website.

In June, the rent bank was converted to a permanent grant-based program, which supported a total of 1,717 households to access loans and grants to stay in their homes in 2021, according to the city.

Low-income Toronto residents who are not receiving assistance from Ontario Works or Ontario Disability Support Program (ODSP) may also qualify for help from the city with energy-related emergencies to reconnect, prevent disconnection or to assist in the payment of energy arrears for hydro, gas or oil services.

“To apply for the Emergency Energy Fund, call Neighbourhood Information Post at 647-727-8988 between 9 a.m. and 4:30 p.m. Monday to Friday,” the city says.

RISING RENT

The one-time top-up may be more useful to some renters than others depending on the market and an additional $500 for renters in Toronto may do little to help as rents continue to rise.

It was reported last month that rent in the city has gone up by nearly 27 per cent compared to last year.

The latest from Urbanation – a real estate research firm – and Rentals.ca reveals average rent prices across all units cost $2,820 per month, hovering around that price point month over month in October.

“Toronto has experienced the strongest annual growth in rents over the past year among Canada’s largest markets,” the rent report reads.

The average rent for a one-bedroom apartment in Toronto costs $2,502 each month, while a two-bedroom is $3,353 per month.

With files from Rachel Aiello and Alex Arsenych of CTV News.