Canadian Basement Flooding Protection Subsidy Program
Canadian Basement Flooding Protection Subsidy Programs are available all across Canada. Canadian home owners and professional real estate investors can take advantage of the subsidy or interest free loans to protect their basement from flooding due to backed up valves or sump pump.
“These programs are for the benefit for Canadian property owners, but very few Canadians are aware of these programs” says Navtaj Chandhoke, founder of professional real estate investors group (PREIG) Canada as well as Flipping4Profit.ca “It is a great program to save lot of hassle. Basement flooding is a major problem in certain areas”
Most of the municipalities across Canada offer financial assistance through partial subsidies for basement flood reduction measures. Subsidy programs have been developed by some municipalities, with the goal of increasing homeowner uptake of measures including downspout and foundation drain disconnection, backwater valve installation, and repairing sewer laterals.
There are several requirements for Canadian Basement Flooding Protection Subsidy Program. Make sure that you follow all instructions to qualify and reap the benefits.
The following items and works are eligible for a subsidy after proper installation.
Each home owner is required to have a contractor licensed by the city carry out a site assessment to determine the suitability of isolating their property from the city’s sewer system.
Before work starts, verify that your contractor has a valid city business license. If your contractor does not have a valid City of Toronto license, you will be denied funding for the work completed.
Please go to the following website for more information
http://www.basementfloodreduction.com/forhomeowners/munisubsidyprograms.html
Subsidy programs may be available to property owners in the city who have experienced basement flooding, or to homeowners who are in an area that may be vulnerable to basement flooding.
Backwater valve installations require an inspection by city building division. Please be sure to schedule an inspection before enclosing or covering the work. This will ensure the inspector is able to confirm whether the installation meets the applicable Building Code requirements.
Grant programs are often directed to properties that have experienced flooding from sewer backup associated with the city sewer system, rather than flooding associated with infiltration or overland flows.
You can learn more about forgivable Canadian Business and real estate grants at GovernmentGrantsCanada.ca
DISCLAIMER
We believe the information contained in this article to be accurate. It is presented with the understanding that we are not engaged in rendering legal, accounting, or investment advice. When professional assistance is required, utilize the services of a licensed real estate broker, lawyer, accountant, or other consultant as may be required.
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