A rent bank assists people when they cannot pay the rent on time. Available in some Canadian cities, rent banks offer various levels of assistance.
Some rent banks provide for one month's rent only, while others provide no-interest or low-interest emergency loans for multiple months with flexible repayment schedules.
Some rent banks do not require that money be repaid at all. The best way to find out if there is a rent bank in your community is to ask staff at the local municipality, resource centres or community organizations.
Each rent bank operates differently and you must meet certain requirements to qualify for assistance.