Housing minister Ravi Kahlon (photo credit: Province of B.C./flickr)

By Pete McIntyre

Local reaction

New funding for program to help struggling renters keep their homes

Jan 31, 2024 | 2:00 PM

A program to help people pay their rent when facing unexpected bills, is getting $11 million in new funding from the province.

Provincial Housing Minister Ravi Kahlon said the funding for the BC Rent Bank has the potential to support as many as 20,000 renters through unforeseen financial challenges.

“We know that people are feeling the impacts of high rents and inflation, and that’s making it hard for them pay their bills and rent,” Kahlon said. “When people are faced with an unanticipated financial challenge, BC Rent Bank is there to help stabilize them. For many people in B.C., this funding can mean the difference between having a safe home or losing it.”

A rent bank program is offered in a number of communities including in the North Okanagan by the Vernon branch of the Canadian Mental Health Association. The communities served are Armstrong, Ashton Creek, Cherryville, Coldstream, Enderby, Grindrod, Lavington, Lumby, Spallumcheen, and Vernon.

Vernon Matters reached out to the local CMHA for comment on the new funding and if any will be provided locally.

Possible firearm involved

One person apprehended in connection with suspicious activity in Coldstream

18h ago

Fatal Collision, Highway Closed

One person dead in crash near Revelstoke

19h ago

Salaries

Vernon Council to discuss lesser pay increases

21h ago

“CMHA Vernon & District welcomes the Province of B.C.’s announcement of $11 million for BC Rent Bank and the regional Rent Banks across the province. We appreciate the ongoing support of the North Okanagan Rent Bank,” Julia Payson, CMHA Vernon & District executive director, said.

“At a time when housing insecurity is a significant issue for local residents, the North Okanagan Rent Bank provides meaningful assistance to families, seniors and individuals to stay housed, even when an emergency impacts their ability to pay rent. In our first two years of providing loans as the North Okanagan Rent Bank, we have disbursed more than $125,000, which has kept more than 200 people housed.”

Payson said while the province covers a large amount of the operating and capital costs of the Rent Bank, fundraising ensures that more people can be helped in the region.

“We had originally estimated that we would provide about $30,000 a year in loans, but as soon as we started, the need was twice this estimate. Next year, we expect to provide over $100,000 in loans. We are so thankful for the ongoing provincial government support, but also the local support through fundraising,” Payson told Vernon Matters.

North Okanagan residents can support the North Okanagan Rent Bank by participating in Coldest Night of the Year Feb. 24. To register, go to https://cnoy.org/location/vernon

For a list of communities served by BC Rent Bank, visit: https://bcrentbank.ca/locations/