(FIle photo)

Rent bank could soon be coming to the Central Okanagan

Bank would aim to help low-income families maintain their housing in the region

The Regional District of Central Okanagan (RDCO) is looking to help establish a rent bank in the Central Okanagan.

RDCO community services director Todd Cashin said a rent bank could help some families to maintain their housing in the region.

“Rent banks are a homelessness prevention tool that is focused on providing housing stability for low- to moderate-income renters,” said Cashin in an open letter to the RDCO governance and services committee.

“Rent banks provide financial assistance in the form of repayable loans to households at risk of eviction for reasons such as non-payment of rent or utilities.”

Cashin said rent banks could also benefit Central Okanagan residents who need money to cover a damage deposit when they move.

READ MORE: An ongoing struggle with poverty

In 2019, the B.C. Rental Housing Task Force granted $10 million to the Vancity Community Foundation to help establish a province-wide rent bank system called B.C Rent Bank. Now, Vancouver Rent Bank and the New Westminister Rent Bank are some of the first rent banks operating in the province.

Cashin said the majority of Central Okanagan residents supported a rent bank in a recent survey conducted by the RDCO, the City of Kelowna and the Central Okanagan Economic Development Commission.

“(In the survey) 96 per cent of respondents either agreed or strongly agreed that Central Okanagan residents would benefit from a rent bank,” said Cashin.

“Ninty-three per cent of respondents either agreed or strongly agreed that a rent bank should be established in the Central Okanagan.”

On March 3, 2020, all three parties also hosted a BC rent bank information session at the Coast Capri Hotel. During the session, eight organizations came forward and expressed their potential interest to operate a Central Okanagan rent bank.

To learn more about operating a rent bank in the Central Okanagan, you can visit B.C. Rent Bank’s website.


@connortrembley
connor.trembley@kelownacapnews.com

Like us on Facebook and follow us on Twitter.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Slightly cooler weather in Kelowna over long weekend

Chance of flurries on Saturday after bright and sunny week

4 inmates at Okanagan Correctional Centre granted early release due to COVID-19

The move, which impacts offenders serving intermittent sentences, is to prevent spread of virus

Canadian police to make home visits to enforce mandatory quarantine for travellers

Police forces have been asked to help verify Canadians are complying with the Quarantine Act

COVID-19: No more international flights at Kelowna International Airport

All international flights at YLW have been suspended, airport to operate just nine flights a day

Reality TV show about bodybuilders still filming in West Kelowna amid COVID-19

Five bodybuilders from across the country flew to Kelowna to move into a house for a reality TV show

VIDEO: Easter festivities may be scaled back, but it can still be a fun holiday

COVID-19 circumstances have dictated that the holidays may not be perfect

Hitchcock classic a parable for our times

‘You fools, stop thinking of yourselves, think of the boat’

COVID-19 world update: U.S. to start antibody tests; drones enforce lockdown in Italy

Comprehensive update of coronavirus news from around the world

Lower Mainland hunting store sees 200% increase in firearm sales

Co-owner of Wanstalls says increase due to a variety of reasons

People needing addiction services feeling ‘abandoned’ during pandemic

The province is trying to increase access to addiction care through a phone line of experts, doctors

COVID-19: B.C. ER nurse self-isolates in travel trailer, apart from family

Marcia Kent says situation is difficult but worth it to keep twin boys safe

UPDATE: Algae bloom in Shuswap Lake determined to be non-toxic

Interior Health maintains people should not drink untreated water

B.C. unveils $5M for mental health supports during the COVID-19 pandemic

Will include virtual clinics and resources for British Columbians, including front-line workers

Most Read