FINANCIAL FAQ’s

Trillium does not collect last month's rent. Tenants pay rent as they go on the first of the month. There is provision to start a lease mid-month. When a notice of termination is given, Trillium Village will also allow the 60 days notice to end mid-month as well.

Rent Geared-to-Income units are available in Maple and Cedar Court. Trillium Village maintains a list for Maple Court and the Housing Access Centre in the City of London Housing Division maintains the list for Cedar Court.

Tenants are responsible for paying for their own phone, internet and cable. The only other additional cost is a monthly fee for more than one designated parking spot. Recreational vehicles, motorhomes, and campers do not qualify for additional parking spots since they are not allowed to be parked or stored at Trillium Village.

An Equity Lease is a rental agreement by which a prospective tenant deposits funds with Trillium Village for the term of the occupancy, in return for a promissory note.  The funds cover the capital cost portion of the rent.  Upon vacating the unit, the tenant (or estate) receives back the entire deposit.

The prospective tenant signs a lease that only requires the operating costs and reserve fund portions of the rent to be paid on a monthly basis.

No.  You have the option to sign either an Equity Lease or a conventional lease that does not require an investment.  As well, Tenants do not have to cover the full capital cost of the unit.  There is flexibility to invest a partial portion of the capital cost.

The amount deposited would determine the capital portion of the rent on a sliding scale; in addition to the operating costs and reserve fund portions of the monthly rent, which all tenants pay.

No. There is a maximum amount that may be invested for each model type based on square footage and its location in either Elm Court or the Concorde. The maximum amount is based on the capital cost of the unit at the time of building that particular phase. Trillium Village must be able to collect a minimum rent that covers the capital reserve amount and the day-to-day operating expenses.