Vancouver Rent Bank

 

December 7, 2020 - Important Announcement:

In our collective efforts to help keep our community safe during COVID-19 health concerns, the Vancouver Rent Bank drop-in will be closed until further noticeWe will continue to accept and review on-line applications during this time.

***Please be advised: Applications received after December 7, 2020 may not be reviewed until the New Year beginning in January. Our Vancouver Rent Bank Team will continue to do our best to respond as soon as possible. We apologize for the inconvenience and appreciate your patience and understanding.***

If you require immediate assistance with your Vancouver Rent Bank or Violence Prevention Fund application, please feel free to call us at 604-566-9685  Mon - Fri, 10:00 AM - 3:00 PM or leave us a voice message and we will respond as soon as possible.

 

 

What can the Vancouver Rent Bank do for me?

VRB can offer a short term, no interest loan to families and individuals that live in the City of Vancouver and are at risk of eviction or essential utility disconnection due to a temporary shortage of funds. As well we can provide a security deposit if current housing is deemed unsafe or unsustainable. We also provide applicants with the tools to better manage their limited financial resources.

At this time, loan applicants may be considered for a one time housing grant or support with essential utilities and basic needs. Our one time housing grant program is funded by the Government of Canada's Reaching Home: Canada's Homelessness Strategy in response to COVID-19.  These one time housing grants are intended to help keep Vancouver residents safely housed and reduce the impacts of COVID-19.

We encourage you to apply if you are currently experiencing homelessness, are currently at risk of homelessness, or experiencing financial hardship due to COVID-19. Please note, as housing grant funds are limited VRB cannot guarantee this will be available in the New Year. However we will continue to accept and consider loan applications.

Please see below for application criteria and guidelines. You can also contact us directly at 604-566-9685.

 

What can VRB loans and one-time housing grants be used for?

  • Rental arrears/past due rent (not to exceed 2 months)
  • Utility Arrears
  • Security Deposits and/or First month’s rent

What are the Vancouver Rent Bank requirements for applicants?

  • Currently a resident or will be a resident of the City of Vancouver
  • Are low-income (see chart below)
  • Are nineteen years of age or older to apply for a loan. Housing grant applicants must 18 years or older.
  • Have a bank account or are on income assistance
  • Have (will have) a concrete, consistent source of income (can be employment or government assistance)
  • Have two pieces of ID, one with picture
  • Can provide proof of tenancy
  • Not be in the process of bankruptcy (does not apply to one time housing grants)
  • Have no un-discharged bankruptcies (does not apply to one time housing grants)
  • Have a sincere reason for any delinquency in debt/rental/essential utility payments
  • Have/ will have long term, safe housing
  • Have rental costs that do not exceed an ongoing ability to pay rent
  • Be experiencing temporary financial crisis and/or financial crisis due to COVID-19
  • Owe no more than two months rental arrears

 

What if I live in subsidized housing?

If you live in BC Housing we will not be able to approve you for a loan for rent. We can contact your landlord to help negotiate a payment plan. If you live in other subsidized housing, we may be able to approve your loan application. However, the first step is always to attempt to negotiate a payment plan with your landlord.

Is there a maximum loan amount I can request?

Yes. The maximum a single person may request is $1300. The maximum a family may request is $1800.

What is the maximum housing grant amount I can request?

Please note, VRB will not guarantee a grant amount until after an application has been reviewed and approved. Final decisions will be based on current monthly income, monthly expenses, family size and ability to sustain housing after receiving grant/loan funds.

How are the funds provided?

If you are approved for a loan or a one time housing grant, the funds are provided in cheque form. The cheque is written and sent directly to your landlord, or the utility company such as BC Hyrdro or Fortis BC.

 

How do I apply for a loan or grant from the Vancouver Rent Bank?

In order to start an application for VRB loan or one time housing grant, you will need to sign up, log-in, and complete a pre-assessment. You can do this by clicking here.

Is there a drop-in?

The Vancouver Rent Bank drop-in is currently closed until further notice. We will continue to accept and review on-line applications during this time. 

 

What else do I need to apply?

Once your application is received we will contact you with a list of required documents to send us. 

Short list of Documents:

  • 2 pieces of Valid ID (one with picture)
  • Proof of Tenancy or Proof of Intent to Rent
  • Eviction Notice (if applicable)
  • Last 3 months of ALL bank account and credit card statements
  • Payday loan statements (if applicable)
  • Proof of income
    • Recent Pay stubs, child tax benefits or ministry payments, application to EI, employment contract etc.
    • If self-employed, most recent tax return
  • Recent Utility bills
  • Void Check or Automatic Withdrawal Slip

When should you contact a member of the Vancouver Rent Bank?

If you have concerns about your ability to pay your rent or essential utility bills, then that would be a good time to call a member of our Vancouver Rent Bank team at 604-566-9685.

How long does the process take?

Until further notice, VRB cannot guarantee a response time due to a high volume of applications and enquiries. However, our team may be able to provide you with referrals to other resources in the meantime. Feel free to call us if you would like more information.

Is there an interview?

Yes. The interview process is very indepth; we will ask detailed questions about past, current, and future spending, budgeting (past/current), and future income streams. The process can seem invasive, however, the goal is to determine if the applicant meets the program criteria. 

How do I know if I am low income?

Low income is defined as follows:

ANNUAL HOUSEHOLD INCOME ELIGIBILITY

FAMILY SIZE

BEFORE TAX INCOME

AFTER TAX INCOME

1 PERSON

$29,520

$24,463

2 PERSONS

$36,750

$29,773

3 PERSONS

$45,180

$37,074

4 PERSONS

$54,854

$46,253

5 PERSONS

$62,215

$52,668

6 PERSONS

$70,168

$58,410

7 PERSONS OR MORE

$78,121

$64,152

How do I pay back the loan?

The maximum repayment term is two years.

This is an interest free loan. You will only be charged an administration fee of $1/month.

Loan repayment amounts:

  • A loan of $500 will require a monthly payment of approximately $22/month*
  • A loan of $1000 will require a monthly repayment of approximately $43/month*
  • A loan of $1,300 will require a monthly repayment of approximately $55/month*

*On a two year term.

Monthly payments are automatically withdrawn from your bank account.

There is no repayment requirement for approved one time housing grants.

 

Special thanks to Hollyburn Properties for their ongoing support and funding!

SSpecial thanks to Hollyburn ProCperties for their continued support and fu

The Vanouver Rent Bank is open:  Tuesday - Thursday 9:30am - 3:30pm 

Drop-In Hours: Tuesdays 12:00pm - 3pm 

Contact Us:
By phone at 604-566-9685
By email at vrb@niccss.ca     By fax at 604-569-3779

Vancouver Rent Bank
(Operated by NICCSS)
#200-739 Gore Avenue,
Vancouver, BC V6A 2Z9

 

*NICCSS and the Vancouver Rent Bank are scent free environments - no perfumes or heavily scented products.*