The Nanaimo Rent Bank continues to see an increase in demand for its service of providing interest-free loans to individuals needing help paying their rent. (Dreamstime)

By Jordan Davidson

housing needs

‘People are struggling:’ Nanaimo Rent Bank sees surging demand

Nov 20, 2025 | 4:17 PM

NANAIMO — A provincial program helping struggling renters stay in their homes is being widely used in the community.

Opened in 2021, the Nanaimo Rent Bank, operated by Connective Support Society of Nanaimo (Connective), provides housing stability by offering interest-free loans up to $3,000 to low to moderate-income households facing eviction or needing help with utility bills, with 19 rent banks across B.C. funded by local and provincial governments.

During a Wednesday, Nov. 19, finance and audit committee meeting presentation, managing director of the BC Rent Bank Melissa Giles said the demand for their program has only increased.

“People are struggling…I began this work in 2019, and we continue to see growth in those renters that are seeking support, as well as the level of financial support they need in order to maintain their housing.”

In Nanaimo, 95 loans out of 351 pre-assessments received were approved between October 2024 and September, totalling over $163,000, an increase of 14 per cent from last year.

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Of that amount, just under $80,000 of those loans have been repaid, an increase of 42 per cent from the previous year.

“They (Nanaimo) have one of the highest approval rates (44 per cent) from across the province, and the lowest that are marked as ineligible (11 per cent), and very much in line with the repayment rates that we see across the province, which is hovering around 63 per cent, sometimes goes up to 65 per cent,” said Giles.

She said the loan repayment period was extended to three years during the COVID-19 pandemic, and they’re able to work with a client on extensions or deferrals if they’re unable to pay it back on time.

“The goal of the program is housing stability, so we want to meet the renter where they are at, and honestly, if they miss a payment and experience a ‘non-sufficient-funds’ charge, it’s often higher than the amount of their rent bank loan, so we don’t want to see renters accruing more debt during their time of repayment.”

Similar numbers were seen in the Regional District of Nanaimo (RDN), where 93 out of 346 pre-assessments were approved last year.

2025 Numbers
Nanaimo City Council approved $150,000 in December from the Online Accommodation Fund for the 2025 rent bank, with Connective, the Canadian Mental Health Association Mid Island Branch (CMHA), and Nanaimo Family Life Association (NFLA) each receiving $50,000.

As of Sept. 30, CMHA approved 35 individuals for their rent supplements this year, averaging $678.75 per loan.

NFLA was recently added in response to the growing demand of seniors on fixed incomes requiring assistance, according to the City report.

NFLA issued 46 grant supplements this year, impacting 58 people, with an average loan of $721.43.

Connective, which primarily serves low-income individuals, families, seniors, those experiencing homelessness or leaving correctional facilities, issued 79 rent supplements impacting 102 people, with an average loan amount of $469.06.

They’re also reporting a growing trend of more individuals and families on fixed incomes, such as government assistance or disability, are applying for rent support.

They’re also seeing clients looking for a second loan once their first one is paid off.

Out of 90 individuals who applied to Connective last year, 43 per cent supported families, 52 per cent lived with a disability, 58 per cent were between the ages of 19-39, 61 per cent were women, and 93 per cent were Canadian citizens.

Since 2021, the City has provided approximately $389,000 in operational funding for Connective, with contributions also coming from the RDN, the Alberni-Clayoquot Regional District, and United Way BC.

Province-wide, almost 2,363 households asked for assistance this year, an increase of 10 per cent from 2024, according to the BC Rent Bank report.

Of those, 297 had loans approved as of April 1, a 16 per cent decrease from the previous year.

Around 43 per cent of applicants in B.C. become unresponsive or withdraw their application, with almost 28 per cent being deemed ineligible.

According to the 2023 Housing Needs Report, the number of rental households in Nanaimo grew from 10,955 in 2011 to 14,385 in 2021, with a 2024 vacancy rate of 2.9 per cent.

More information on the Nanaimo Rent Bank can be found here.

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