New Qualified Homes rental option opens applications in South Vancouver

The Cascades in South Vancouver is accepting applications for Qualified Homes, an income-qualified rental option for individuals and households that meet its eligibility thresholds. The community includes both market-rental and Qualified Homes and is located beside Marine Drive Canada Line Station.

Units range from studios to three bedrooms, with monthly rents from $1,960 to $3,614. Eligibility is based on combined gross worldwide household income, which cannot exceed four times the annual rent at the time of application. A household applying for a studio, for example, must earn less than $94,080 a year.

A recent graduate earning $60,000 a year and living alone would qualify for a studio. Two partners each earning $60,000, however, would have a combined income of $120,000, exceeding the studio limit. They would need to apply for a two-bedroom unit, for which household income can be as high as $127,056 annually.

Applicants must also be Canadian citizens, permanent residents or people with refugee status, and must have lived in British Columbia for the previous 12 months. After confirming eligibility, applicants can book a virtual leasing tour and submit income documentation for all occupants, including three consecutive pay stubs and the most recent tax return, three consecutive bank statements, asset disclosure and other standard documents. The Cascades leasing team is available seven days a week, and applications can be submitted online for a preferred unit type.

After approval and lease signing, the property team will re-verify household income at least every five years. Residents of both Qualified Homes and market-rental units have access to the same amenities, finishes and quality standards.

Amenities include The Summit fitness space with strength and cardio equipment, stretching areas, a sauna and steam room; a rooftop lounge with a chef’s kitchen and skyline views; a sports court, pet-washing station, co-working space and karaoke lounge. Every home includes in-suite laundry, durable finishes and smart-home technology with integrated heating and air conditioning.

The Cascades is beside Marine Drive Canada Line Station, about 15 minutes from downtown Vancouver and five minutes from YVR Airport. It has a walk score of 90 and a public plaza linking Marine Drive with West 70th Avenue, supported by more than 17,000 square feet of community-serving retail space.

Availability is limited, with only studio and one-bedroom Qualified Homes remaining. Prospective renters can visit the project website to check their eligibility.