Uptake is expected to be swift since Nanaimo's first rent bank opened in mid-January. (The Canadian Press)

By NanaimoNewsNOW Staff

assistance

Rent bank opens to help keep Nanaimo renters housed

Feb 12, 2021 | 6:06 AM

NANAIMO — A short-term solution is now available for Nanaimo renters facing eviction or utilities being cut off.

The Nanaimo rent bank is now open and operated by the Nanaimo Region John Howard Society.

It offers a repayable loan to cover issues such as non-payment or rent or utilities to those who wouldn’t qualify for a loan from a bank. The loans are offered with simple conditions and can be forgiven completely.

John McCormick, executive director of the Nanaimo Region John Howard Society, said the rent bank opened at a time when it’s needed most.

“The pandemic has exacerbated the already unprecedented levels of precariously housed community members. That, combined with rental stock in historic low supply, means that the creation of the Nanaimo Rent Bank is enthusiastically supported as a valuable option to help low- to moderate-income renters to remain housed,” he said in a release.

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McCormick previously told NanaimoNewsNOW he expected the service to be well-used, similar to other rent banks across B.C.

Anyone seeking assistance from the rent bank can apply online.

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