Renting That
Actually Gets You Somewhere

1. What the program is

Residents who complete a Perfect Year earn a $1,000 credit toward the purchase price of an eligible home built and sold by EverJonge Homes Ltd. Credits accumulate across consecutive and non-consecutive Perfect Years with no maximum.

The credit is applied as a reduction of the purchase price. Whether it is applied to the purchase price at the time the agreement of purchase and sale is entered into, or as a credit on closing, is determined by us on a case-by-case basis. It is not cash, is not paid out, is not a deposit, and is not a rent credit or rent discount. It does not reduce rent or lawful rent for any purpose, including the calculation of future rent increases.

2. Earning a Perfect Year

A Perfect Year is a period of twelve consecutive months, measured from the commencement date of your tenancy and from each anniversary of that date, in which you have, in every month:

1. paid rent in full and on or before the day it is due;
2. kept the unit and your use of the property in the condition required by your tenancy agreement and by the Residential Tenancies Act, 2006; and
3. complied with the terms of your tenancy agreement.

A Perfect Year is all or nothing. A month that does not meet the standard forfeits the credit for that twelve-month period. The next period begins fresh on the following anniversary date.

A failed period does not erase credit you have already earned. Your balance stays where it is, and you resume adding to it with the next qualifying period. A missed year costs you that year's $1,000 and nothing more.

3. What can cost a Perfect Year

Without limiting Section 2, a twelve-month period will generally not qualify where, in any month of it:

• rent was paid late, paid short, or returned for insufficient funds;
• an amount properly owing under the tenancy agreement went unpaid;
• damage beyond ordinary wear and tear was caused to the unit or the property by the resident or their guests;
• a term of the tenancy agreement was breached and not remedied within a reasonable time after we asked;
• a notice of termination was given by us on grounds under the Residential Tenancies Act, 2006 and was substantiated.

We will not raise a failed month for the first time at the point you attempt to redeem.

4. Exercising your rights never affects your status

Nothing in the following will ever be treated as failing the standard in Section 2, and none of it will be taken into account in any determination under this program:

• requesting or pursuing maintenance or repairs;
• reporting a condition, complaint, or concern to us, to a municipality, or to any authority;
• making, joining, or participating in an application or proceeding before the Landlord and Tenant Board;
• refusing entry that does not comply with the Residential Tenancies Act, 2006;
• participating in a tenants' association or organizing activity;
• withholding an amount you are lawfully entitled to withhold;
• exercising any other right under the Residential Tenancies Act, 2006 or any other law.

5. Our determination

Whether a month or a twelve-month period meets the standard is determined by us, and our determination is final. We will exercise that determination reasonably, consistently between residents, in accordance with the Human Rights Code, and never on a ground listed in Section 4.

6. Statements

You may ask us at any time for a statement of your standing under this program, and we will provide it in writing within a reasonable period, confirming whether your most recently completed twelve-month period qualified and stating your accumulated balance. Statements are provided on request only; we do not send them automatically.

7. Redeeming the credit

To redeem, all of the following must be true:

1. you are a current resident in a tenancy with us at the time the agreement of purchase and sale is signed;
2. you are in good standing under this program, as set out below;
3. the home is an eligible home under Section 8;
4. you are a purchaser named on the agreement of purchase and sale;
5. no amount is outstanding under your tenancy; and
6. the transaction completes.

Good standing means that, at the time the agreement of purchase and sale is signed and again at the time the credit is applied: your most recently completed twelve-month period qualified as a Perfect Year, and every month elapsed in your current twelve-month period has met the standard in Section 2.

Earning credit and redeeming it are separate tests. Credit already in your balance is not lost if you fall out of good standing, but it cannot be redeemed until good standing is restored by completing a further qualifying period.

The credit is applied as a reduction of the purchase price, in the manner and at the time we determine under Section 1. If the transaction does not close, the credit is not forfeited and remains available for a future eligible purchase for as long as you remain a resident.

8. Eligible homes

A home is eligible only where:

1. it is sold directly by EverJonge Homes Ltd. and is not listed with, marketed by, or being sold through a real estate brokerage, and no commission, referral fee, or other compensation is payable to a registrant under the Trust in Real Estate Services Act, 2002 in connection with the transaction;
2. it is not already subject to another promotion, incentive, discount, or credit offered by us, unless we agree otherwise in writing; and
3. the purchase is a direct purchase from us — not a resale, an assignment of an agreement of purchase and sale, or a purchase from a third party.

We are not obligated to have any particular home, price, or inventory available at any time.

9. Nature of the credit

The credit has no cash value and will not be paid out in cash or applied to rent, arrears, deposits, or any other amount.

The credit is not transferable or assignable, and does not pass to any other person by sale, gift, or operation of law — except that we may, at our sole discretion and in writing, permit a credit to be transferred or applied on a purchase by another person. We may grant or refuse any such request for any reason, and permitting one transfer does not oblige us to permit another. A credit may in any case be redeemed on a purchase where your spouse is a co-purchaser with you.

The credit is a vendor incentive and will be disclosed as such in the agreement of purchase and sale and to your mortgage lender. It is not a deposit and does not form part of your down payment. Confirm the treatment with your lender before relying on it.

10. If your tenancy ends, your credit ends

Your credit exists only for as long as you are renting from us. If your tenancy ends for any reason other than completing a purchase under this program — whether you give notice, we give notice, the term expires and is not renewed, you assign or sublet, or you simply move out — all accumulated credit is forfeited immediately and in full.

Forfeited credit is not paid out, not refunded, not held in reserve, and does not revive if you later rent from us again. A new tenancy starts from zero.

11. Changes to the program

We may amend, suspend, or discontinue this program at any time and without notice. The current version of these terms is the version posted on our website, and it is your responsibility to check it. Credit already earned at the date of a change remains earned and may still be redeemed under Sections 7 and 8, subject to Section 10.

12. General

• The program is offered by EverJonge Homes Ltd. and is separate from your tenancy agreement. It is not a term of your tenancy, and no right under it is a right under your tenancy agreement.
• Participation is automatic for residents; there is nothing to sign up for and nothing to pay.
• We do not give tax, legal, or financing advice. Get your own before relying on the credit in a purchase.
• Governed by the laws of Ontario.
• Nothing in this program limits, waives, or affects any right of a tenant under the Residential Tenancies Act, 2006. Any part of these terms inconsistent with that Act is void to the extent of the inconsistency.

Questions: properties@wecpm.ca