Additional Investment In Rent Banks Helps Seniors And Vulnerable Ontarians Avoid Losing Their Homes
For Immediate Release
April 3, 2006
TORONTO – The McGuinty government is helping low-income tenants with short-term rent arrears stay in their homes by investing additional funds in the Provincial Rent Bank program.
“This program has provided crucial help to more than 4,000 low-income tenants across Ontario who faced eviction due to a missed rent payment,” said Minister of Municipal Affairs and Housing John Gerretsen. “Providing this important program with an additional $4 million in funding will ensure that many more tenants will be able to stay in their homes.”
The government is investing an additional $4 million in the Provincial Rent Bank program to promote housing stability by helping low-income tenants to avoid eviction for non-payment of rent due to an unforeseen crisis. Tenants with lower incomes may apply to their local rent bank to receive financial assistance to address short-term rent arrears. If a tenant’s application is approved, the outstanding rent is paid directly to the landlord on behalf of the tenant.
Since 2004, when the program began with an initial allocation of $10 million distributed among municipalities in Ontario, 4,177 households have received assistance and avoided eviction.
“Short-term arrears is the most common reason low-income tenants lose their housing and are forced into shelters,” said Gerretsen. “Our rent bank program has proven to be a great success at helping tenants to resolve unplanned financial difficulties, and stay in their homes.”
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Contact:
Patti Munce
Minister's Office
(416) 585-6333
Scott Harcourt
Market Housing Branch
(416) 585-7529