The Emergency Rental Deposit Loan Program provides an interest-free repayable loan for last month’s rent deposit to households where changes in economic situation necessitate a move to more affordable housing. Coming up with last month’s rent can be a barrier to finding new housing when your income is low. This program will help about 450 households in market housing. As well, homeowners facing foreclosure who meet eligibility criteria and need assistance to move to more affordable rental accommodation can access this program. (People receiving Ontario Works or Ontario Disability Support Payments are not eligible and should seek assistance from their income support worker.)
www.toronto.ca/housing
Emergency Rental Deposit Loan Program
Eligibility
- Must be experiencing housing problems because of the impact of the recession (job loss, income reduction)
- One-time, interest-free loan for paying last month’s rent deposit
- Must be of low income
- Must be a tenant in market (non-subsidized) housing, or have recently lost housing, or be a homeowner facing mortgage foreclosure
- Cannot be moving into subsidized housing
- Those who receive income from Ontario Works or the Ontario Disability Support Program are not eligible
How do I access the program?
- Pending Council approval, program will be in effect April 1
- In the meantime, call the Rent Bank Central Office, Neighbourhood Information Post, 416-924-3862 to leave your name and phone number; or put this information in an email to torontorentbank@nipost.org
New: Toronto Rent Bank Loans
Increased flexibility for Toronto Rent Bank loans will help qualifying low-income households to remain in their housing through a period of economic difficulty, and to avoid eviction or bankruptcy. The Toronto Rent Bank provides interest-free loans to help tenants who have received an eviction notice because they are behind in their rent. About 1,000 loans were made last year through a network of seven access centres across the city. The Provincial government has provided an additional $500,000 in funding this year, for a total of $1.8 million. Additional flexibility in repayment terms for these loans will assist tenants facing economic hardship to get through challenging financial circumstances without losing their housing.
torontorentbank@nipost.org
Toronto Rent Bank: Increased Flexibility on Repayment Terms
Eligibility
- Behind on the rent
- Facing eviction
- Living in market rental housing (not subsidized)
- Current and new loan recipients are eligible for the new repayment rules
- Cannot be receving payments from Ontario Works or the Ontario Disablity Support Program
Current and new loan recipients are eligible for the new repayment rules
Cannot be receiving payments from Ontario Works or the Ontario Disability Support Program
How do I access the program?
Call the Rent Bank Central Office, Neighbourhood Information Post, at 416-924-3862
