New Pilot Program Offers Funding To Retrofit Rental Buildings

What Is The Rental Apartment Retrofit Accelerator Program?

The City of Vancouver has launched the Rental Apartment Retrofit Accelerator (RARA) program, partnering with CleanBC and BCHydro, to reduce existing rental buildings’ impact on the environment. With $3.5 million in grant funds, this initiative focuses on energy-efficient upgrades, electrification, and heat pump technology adoption. The program aims to create healthier living spaces during extreme weather events, reduce operational costs, support future retrofits, and maintain stable tenancies, aligning with Vancouver’s emission reduction goals. Building owners of market rental apartments in Vancouver are eligible to apply.

RARA benefits include

  • Retrofitting and electrifying Vancouver’s existing buildings with air source heat pumps will add cooling and create healthier, more comfortable and safer living spaces during extreme heat and forest fire smoke events.
  • Upgrading space heating, water heating and ventilation to low carbon and more energy efficient versions will improve comfort and may reduce operational costs.
  • Assisting building owners with the tools to plan for other building retrofits and monitoring ongoing energy consumption will support future upgrades.
  • Technical and administrative support along with clear expectations for landlords to effectively retrofit buildings will minimize impacts on residents and maintain stable tenancies. 

This fresh wave of funding aims to further slash greenhouse gas (GHG) emissions and boost building energy efficiency in communities. Additionally, it will invigorate economic activity within the region. Forward-looking retrofits, like these initiatives, not only extend the lifespan of existing structures but also trim overall ownership expenses.

Retrofit Your Rental Property Today

Retrofitting your rental property can increase its value, reduce its impact on the environment and increase your total ROI. The Rental Apartment Retrofit Accelerator (RARA) program makes it easier than ever to start this process as you can save thousands through this program. Learn more about the program and start your retrofit process today.

Make Retrofitting Easy

While prioritizing clean retrofits remains essential, pinpointing crucial systems needing prompt repair is equally vital. To best identify deficiencies, a submetering system combined with a dedicated reporting platform like MeterConnex proves highly effective.

Our specialized submetering hardware seamlessly integrates with both new and existing utility meters and building management systems. Meanwhile, our reporting platform efficiently captures meter data from nearly any source and offers user-friendly mobile compatibility. Intrigued? Contact us today for more information.

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