An Interest Free
Emergency Rent Deposit
Loan Program
Do you need help coming up with your first and last month's rent?
Are you behind in your rent and facing eviction?
You may be eligible for an interest-free repayable loan.
A repayable interest free loan is available for households that may require first and last month's rent deposit to move into more affordable housing.
A RENT BANK LOAN MAY BE
AVAILABLE TO YOU IF:
you are an individual, couple, senior citizen, or family with children living in Toronto with legal status in Canada
you are in immediate danger of losing your home due to unpaid rent
you have a regular source of income, including OAS and GAINS
you meet the income requirements
you are paying market rent (not subsidized)
your rental unit is covered by provincial tenant legislation
you can afford your rent in the long term
YOU ARE NOT ELIGIBLE FOR
RENT BANK IF:
you currently receive OW/ODSP (social assistance) or OSAP
you cannot provide all the documentation required by Rent Bank application process
you own a home
Staff will assess your long-term housing
sustainability. You will need to show that you
have used up all other means of financial help
available to you before applying for a Rent Bank
loan. All loans are to be paid back in full in
monthly instalments. Repayments go back into
the Rent Bank fund to help others.
ADDITIONAL SERVICES INCLUDE:
landlord and tenant mediation
money management advice
follow-up support and community links
IF YOU HAVE ANY QUESTIONS ABOUT
RENT BANK OR OUR OTHER SERVICES,
FEEL FREE TO PHONE
Rent Bank Central Office, Neighbourhood Information Post, at 416-924-2543
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