Funding a Rental or
Multi-Unit Build
Four programs stack on a purpose-built rental project in Ontario, and none of them are modular-specific — factory-built units qualify on the same terms as site-built. Here is what each one gives, the date that matters, and the smallest project that reaches it.
Programs checked · figures are each administering body’s published parameters
What Stacks
Four Programs, One Project
A rental project can carry a rebate on the HST, insured construction financing, insured take-out financing and a faster depreciation schedule at the same time. They are administered separately and each has its own test.
| Program | What it gives | The date that matters | Smallest project |
|---|---|---|---|
| Ontario ENRRP rental rebate | Up to 100% of the 8% provincial HST, to $80,000 per unit, plus ONHAP up to $50,000 of the federal part | Construction begins between April 1, 2026 and March 31, 2027 | No minimum. One unit qualifies |
| Federal 100% GST rental rebate | Full removal of the 5% federal GST on new purpose-built rental | Construction begins on or before December 31, 2030, complete by December 31, 2035 | Purpose-built rental |
| CMHC Apartment Construction Loan Program | Insured construction financing up to 100% loan-to-cost on the residential component, 50-year amortisation, fixed rate, automatic take-out to MLI Select on completion | Ongoing intake; allow 4 to 6 months for the application cycle | 5 units and a $1M loan |
| CMHC MLI Select | Multi-unit mortgage insurance with premium discounts of 10%, 20% and 30% at 50, 70 and 100 points, amortisation up to 50 years, up to 95% loan-to-cost | None | Multi-unit; 50 points minimum |
| Accelerated capital cost allowance | Depreciation at 10% declining balance instead of 4% | Construction begins before 2031, building available for use before 2036 | 4 private apartment units |
Note the two loan-to-cost figures are different programs, not a contradiction: the Apartment Construction Loan Program covers construction at up to 100% of cost, and MLI Select insures the mortgage that takes it out at up to 95%.
The Detail
What Each One Actually Does
The rebate on the provincial HST
- A rental unit cannot use the Enhanced New Housing Rebate, which requires primary-residence use by you or a relation
- The ENRRP is the rental equivalent, live since September 2026, with no minimum unit count
- The catch is self-supply: on first occupancy you are deemed to sell the unit to yourself at fair market value, so the outcome does not mirror your invoices
The rebate on the federal GST
- Removes the 5% federal GST on new purpose-built rental, including apartments, student and seniors’ housing
- Construction must begin on or before December 31, 2030 and finish by December 31, 2035
- Stacks with the Ontario rebate rather than replacing it
Construction financing
- Up to 100% loan-to-cost on the residential component, over a 50-year amortisation at a fixed rate
- Automatic take-out to MLI Select on completion
- Minimum five units and a $1 million loan; the application cycle runs four to six months, so start early
Mortgage insurance on completion
- Scored on affordability, energy efficiency and accessibility, with 50 points the entry
- Premium discounts step up at 50, 70 and 100 points, with amortisations to 50 years
- Modular eligible across all CMHC multi-unit products since May 2026, after a pilot insuring more than 800 rental homes
Depreciation
- 10% declining balance instead of 4%, on buildings with at least four private apartment units
- Construction began on or after April 16, 2024 and before 2031
- Front-loads the depreciation shield into the years a new rental project is tightest on cash
A lending change to know about
- From 2026, OSFI treats mortgages where more than half of qualifying income is rental income as income-producing residential real estate
- Those loans carry tighter treatment and generally higher rates
- Most relevant to smaller investors qualifying on projected rents
Before You Budget
Two Things Moving Underneath You
Development charges are changing
- The Development Charge Reduction Program is delivering up to $8.8 billion over ten years
- Priority goes to municipalities cutting charges by 30% to 50% or more and holding it three years
- More than 200 of Ontario’s 444 municipalities levy them — confirm the current schedule before you budget
Build Canada Homes is now a Crown corporation
- Launched September 2025 with $13 billion over five years; its Act received Royal Assent on June 18, 2026
- Its framework prioritises modern methods of construction — modular, panelized and prefabricated
- Six Direct Build sites underway, roughly 4,000 homes, with agreements across provinces close to 10,000 units
What We Supply
What Goes Into Your Submission
EpicMod is the manufacturer. The units, the drawings and the warranty come from the factory; the site work stays with your own contractors. That division is what a funding submission needs stated plainly.
- ✓The engineering drawing set: architectural and structural for an exterior-finished shell, plus mechanical and electrical and CSA A277 certification for fully finished units
- ✓Unit specifications and the Feature List finishes for each unit type
- ✓A delivery schedule your lender can test for realism — units are built indoors while site work proceeds
- ✓Unit pricing fixed at contract, with the exclusions listed in full
Not included in the unit price
- GST/HST, transportation and crane
- Site clearing and servicing, foundations, utility connections, and permit or approval fees
- Interior finishing on an exterior-finished shell. Site work is the property owner’s responsibility, handled by your own trades or your dealer’s crew
How you buy
- Volumetric units come through the EpicMod dealer for your area; where no dealer holds the territory yet, EpicMod serves the project directly until one is appointed
- Panelized framing runs through a dealer from 10,000 sq ft per project up to 100,000 sq ft a year, and direct from EpicMod above that
- Compare the two product lines
Questions
Rental Funding FAQ
Ontario’s enhanced new residential rental property rebate has no minimum unit count, so one new rental garden suite can qualify. The programs with a size threshold are CMHC’s Apartment Construction Loan Program, at a minimum of five units, and accelerated capital cost allowance, at a minimum of four private apartment units.
No. The Enhanced New Housing Rebate requires the home to be the primary place of residence of you or a relation. A unit built to rent out uses the Ontario enhanced new residential rental property rebate instead, which returns up to 100% of the 8% provincial part of the HST to a maximum of $80,000 per unit, with ONHAP covering up to $50,000 of the federal part. See the garden suite and ADU page for how the two paths differ.
Since May 2026 modular construction is eligible across all of CMHC’s multi-unit insured products, including MLI Select, with no pilot access required. CMHC reviews a construction timeline for realism, and factory production running in parallel with site work is a documented reason for a compressed schedule.
The engineering drawing set, unit specifications and a delivery schedule, with the unit price fixed at contract. Transportation, site work, foundations, utility connections and permit fees are quoted separately and are the property owner’s responsibility. EpicMod is the manufacturer, never your builder.
Your accountant, your lender, or the administering body. Every figure here is a published program parameter rather than an assessment of a particular project, and the rental rebate in particular is computed on the unit’s fair market value under the self-supply rule, not on your invoices.
Next Step
A Written Quote Against Your Unit Mix
Send the unit count, the household sizes or suite mix, and the site. You get unit pricing, the exclusions in full, and a delivery schedule your lender or board can work from.
Amounts and deadlines are drawn from each administering body’s published material on the date shown. Programs open and close. Confirm with the administering body and your own accountant or lawyer before making a purchase decision. EpicMod does not provide tax or legal advice.