Province announces Rent Bank services will be coming to Peace Region

VANCOUVER, B.C. – British Columbia has become the first province to provide 100 per cent rent bank coverage, letting low to moderate-income renters in every part of the province, including the Peace Region, have access to rent bank services.

Rent banks provide interest-free loans for tenants in urgent circumstances that will prevent them from losing their housing. BC Rent Bank is a project of the Vancity Community Foundation, and by partnering with the Kamloops and District Elizabeth Fry Society, this means people in communities that previously did not have rent bank loans and services, like in northern BC, now have access to it.

“I’d like to extend my gratitude to the BC Rent Bank and Kamloops and District Elizabeth Fry Society for its work to help people in financial distress in our province,” said David Eby, Attorney General and Minister Responsible for Housing.

“Rent banks are temporary solutions for some people in housing crisis. While they are not the ultimate solution to affordable housing generally, the services rent banks offer are vital to prevent homelessness and must be available to all British Columbians. I’m very proud these essential services are now offered in every part of the province.”

“Today, renters in every corner of BC have access to rent bank loans and services. This is a major milestone for our project to achieve, considering that two years ago, there were seven rent bank locations primarily in the Metro Vancouver area,” said Melissa Giles, project manager, BC Rent Bank.

“Rent banks are much more than lenders. We are very much focused on the whole person – the renter who is experiencing housing insecurity and financial shocks – and we are striving to care for their well-being beginning with stable and safe housing.”

The Provincial Government has invested $10-million into BC Rent Bank and is working to secure long-term partners to provide rent bank services to the newly covered 15 regions.

“Rent banks are housing stability and homelessness prevention resources that renters can turn to during unexpected interruptions to income that jeopardize their housing. The interest-free loans can be applied to tenants’ rent or essential utilities, or toward the deposit or first month’s rent for tenants who have secured housing but are unable to pay these requirements,” says a government release from Tuesday.

More information can be found on the Government’s website.