BC Secondary Suite Incentive Program

Beginning in April 2024, the Province, through BC Housing, will introduce the Secondary Suite Incentive Program (SSIP). The Secondary Suite Incentive Program (SSIP) will provide money to help homeowners create a new secondary suite on their property to be rented out for below market value.

The SSIP will be a three-year pilot program to provide conditional financial assistance to help homeowners construct long-term affordable rental units, including secondary suites and/or ADUs, attached or detached from the unit that the homeowners reside in.

Qualified homeowners would be eligible for a forgivable loan covering 50% of construction costs for installing a new secondary suite or ADU, up to $40,000.

  •  The loan will be available in the form of costs rebated to the owner after construction is complete and an occupancy permit is issued.

  • The loan will be forgiven if the homeowner meets certain conditions, including renting the unit at below-market rates, as specified in the program criteria, for a minimum of five years.

  • Participants must enter into a mental agreement with a tenant who is not an immediate family member

More information about SSIP can be found on BC Housing’s website (https://www.bchousing.org/housing-assistance/secondary-suite) and includes an option to sign up for emailed updates.

Jane Zhao