After two weeks, we finally heard back from Coho Management Services, the company renting out the market rental suites at the Olympic Village. Their response:
We have received your application and attachments. Unfortunately, your combined gross household income is above the upper limits set by the City of Vancouver. For this reason, we cannot offer you a suite.
Time to pop the champagne, we’re rich. Or at least too rich for the Olympic Village – land of of condos averaging $1 million. You could have fooled me. But according to the City’s guidelines, anyone wishing to rent at the Olympic Village cannot get paid more then 5 times the rent (pre-taxes).
I’m not sure how forcing people to spend at least 20% of their pre-tax income on housing helps the City meet its “affordable housing” goals. For Emily and I, a 2-bedroom unit would have been closer to 19%, but apparently the City thinks we should be paying more. Instead, we’ll stay in our current apartment and save over $800 a month.
Good luck trying to find enough people who make less then us to fork over $1900 a month for rent.