Affordable Housing on Mayne Island

Affordable housing is crucial for preserving Mayne Island’s economic stability, social diversity, and cultural heritage. Rising housing costs make it increasingly difficult for essential workers, young families, and long-term residents—especially seniors—to continue living on the island. Fortunately, several programs are available to help create and access affordable housing for Mayne Island residents.

Secondary Suite Incentive Program: Homeowners looking to create additional rental income can benefit from the Secondary Suite Incentive Program. This program offers a non-repayable loan of up to $40,000, covering 50% of the construction costs for building a new secondary suite in your home or on your property. To qualify, the suite must be rented at below-market rates for at least five years. Once all program requirements are met, the loan is forgiven.

Property Management Program: With over a quarter of the homes on Mayne Island unoccupied for part or all of the year, a Property Management service can bridge the gap by helping homeowners rent out their houses. This service ensures that tenants are trustworthy, pay rent on time, and take care of the property, providing more secure housing options for those in need.

The Mayne Island Housing Society has received a grant from the Victoria Foundation (from the Housing Fund and Peaceful World Vision (Turay and Kasinsky) Fund) to launch a Housing Navigator program that can help you take advantage of these two programs. For more information, contact mihousingsociety@gmail.com.

HomeShare: Homeshare is a housing arrangement where two or more people share a living space, typically with one person offering accommodation in exchange for help around the home, companionship, a modest rent. It often pairs older adults or homeowners with extra space with younger individuals or those in need of affordable housing. This mutually beneficial arrangement helps address housing affordability while also providing support and social connection, particularly for those who may feel isolated or need assistance with daily tasks.

The SGI Community Resource Centre launched the Housing Now home sharing program a while back, and is now working with the Mayne Island Collective to bring this to Mayne Island. If home sharing sounds like a good idea, contact housingnow@gmail.com

First Time Home Buyers’ Program: First-time homebuyers can save up to $8,000 on property transfer taxes when purchasing a home on Mayne Island. As of April 1, 2024, the property transfer tax is eliminated on the first $500,000 of a home’s value and reduced on amounts up to $860,000. For newly built homes, the exemption applies to homes worth up to $1,100,000. For more details, Google “First-time home buyers’ program” and “Newly built home exemption.”

Shelter Aid for Elderly Renters: Lower income seniors renting in the private market may be eligible for a rent supplement.
See: https://www.bchousing.org/housing-assistance/rental-assistance-programs/SAFER

Rental Assistance Programs: Various programs are available to help lower-income families, vulnerable people, and women leaving violence pay their rent.
See: https://www.bchousing.org/housing-assistance/rental-assistance-programs

Property Tax Deferment Loan Program: If you are 55 or older, a surviving spouse, a person with disabilities, or a parent supporting a child, you may qualify for a low-interest loan to defer your property taxes. Apply each year after receiving your property tax notice and before the taxes are due. More information is available at https://www2.gov.bc.ca/gov/content/taxes/property-taxes/annual-property-tax/
defer-taxes#chapter-eligibility

In conclusion, addressing the need for affordable housing on Mayne Island is not just about providing shelter—it’s about preserving the community’s unique character, supporting its economic vitality, and ensuring that all residents, from young families to seniors, have a place to call home. By leveraging the available programs and resources, we can work together to create a more inclusive, sustainable future for everyone on the island. Whether you’re a homeowner looking to contribute or someone in need of assistance, these opportunities are here to help you build a stable and thriving life on Mayne Island.

Jean-Daniel Cusin
Mayne Island Collective