Policy proposal for income exceedance exceptions and review of 2024 compliance audit results.
This report summarizes the findings of Richmond City’s 2024 statutory declaration process for low-end market rental (LEMR) and non-market rental housing. The audit, covering 843 homes, revealed a high degree of compliance. However, some instances of income exceedance and prohibited fees were identified. A key recommendation is to draft a Council policy to allow for exemptions to income exceedance in specific circumstances (limited, non-recurring, under 10% threshold), maintaining affordable housing stability for tenants. The policy will address situations such as temporary income increases from co-op positions, contract work, or government benefits.