Better Victoria Property Protection and Rent Bank Program

Here to assist you

What is the better Victoria homes protection and book Bank system?

a R ent B ank provides financial assistance in the form of a no-interest repayable loan, to families in danger of eviction for explanations such as for instance non-payment of lease or utilities. The borrowed funds may also be used as a damage deposit and/or earliest period’s book to go to safe and renewable construction

*Service service providers: go ahead and reproduce from the one webpage document to put on through your business.

Take note: *Grant Funds are not offered at now

Services

Greater Victoria houses protection and Rent Bank regimen aids people and individuals exactly who meet qualification requisite and which might be susceptible to eviction or crucial energy disconnection considering a temporary scarcity of resources.

*Exceptions can be built in some situation if all the other qualifications conditions tend to be found.

Low-income is defined as follows:

Called For Documents

Two pieces of government-issued detection (one with a photo)

Proof Tenancy or Intent to Rent (ex: Residential Tenancy Agreement, rental arrangement, and other rental arrangement)

Eviction see or electric observe of Disconnection (if appropriate)

90 days of all of the banking account and charge card comments (including statements of all of the loans)

Proof of money

Take note: BC Rent Bank additionally the people societal preparing Council use your personal suggestions just for examination and government needs in accordance with the guidelines regarding the BC lease Bank Privacy Statement.

Plan Details

How to Apply

You’ll be able to sign up for the higher Victoria homes Security and Rent lender system by completing the Pre-Assessment kind and submitting the necessary documents .

Program Process

1: PRE-ASSESSMENT TYPE

The Pre-Assessment kind should be completed and published on line . The shape s shall be reviewed in order these include was given. Should you not posses e-mail access, be sure to cell and talk about further alternatives.

* distributing a Pre-Assessment cannot guarantee that you see financial help.

Step 2: APPLICATION FOR THE LOAN

If we has reviewed the first records, we will go over then steps*. This talk can include inquiring to complete a cell phone meeting and to create additional documentation.

* Speaking with you and examining your position doesn’t assure that you’ll see financial assistance.

Step 3: FOLLOWUP

The Greater Victoria construction safety and lease Bank system C ase M anager follows up with one to go over the job. If necessary, we may ask for considerably more details. The fact Manager may request consent to contact their property owner, company, electricity vendor, and/or some other professional.

Step Four: LOAN CHOICE

Our financing Overview panel will rating complete software. Debts were approved using the chances of securing homes, the applicant’s economic reliability, available financing funds, and the applicant’s ability to repay the loan. The Greater Victoria casing Security and lease lender regimen circumstances management will let you know with the Committee’s decision.

If financing happens to be accepted, the outcome management will setup a gathering with the candidate to accomplish the loan /grant affirmation paperwork , including the mortgage payment plan.

Note: homes Security funds become authorized using the likelihood of acquiring construction, the applicant’s monetary stability, and offered give resources. *

If financing happens to be authorized, the way it is management will arrange a gathering with you to perform the loan acceptance documents, such as the loan repayment program.

Email Address

For firms or providers searching for much more information, kindly communications Ben Finkelberg or Lauren Davis, the Greater Victoria property Security and Rent financial regimen instance administrators at:

NOTICE: Due to COVID-19, the CSPC staff members is operating from another location. If you wish to meet in-person, be sure to call ahead to ensure the accessibility to a larger Victoria construction safety and Rent lender system workforce individual see therefore we can follow right personal distancing tips.

Frequently Asked Questions (FAQ’s)

The goal of the Rent financial loan and/ or property give should help lowest – to moderate-income individuals a n d family in sustaining safe and renewable houses . Resources are given to help with:

Yes, you will find an optimum. The maximum amount a single individual can need is actually $1,500 , and t he maximum level children can inquire is $2,000 .

No more than $500.00 may be lent for important electric arrears (never to meet or exceed the utmost amount observed above if along with book ).

Note: Homes Safety Grants is set. * The lease financial won’t warranty a give levels until after a credit card applicatoin might assessed and authorized. Final decisions depends on latest month-to-month income, monthly expenditures, family size and capability to sustain property after obtaining grant/loan funds. In exemplary conditions, a grant and financing may be matched if it’s proven to let stabilize finances and secure lasting, safer casing.

T he Greater Victoria lease Bank cannot promises installment loans for postal employees an answer opportunity as a result of the high number of candidates and enquir i parece. But w e understand the importance of this scenario ; t h erefore, we wi ll create the far better get in touch with your quickly. We possibly may be able to offer referrals for other tools for the time being. F eel able to call us if you wish more information.

This really is a pastime -free loan , but borrowers will likely be cost d a management fee of $1.00/month . The payment phrase of that loan will depend on the total amount loaned therefore the borrower’s power to repay. Maximum payment name was two years (a couple of years) , and payment can begin at the most 6 months after the loan contract is actually s igned .

*On a 2-year label .

Monthly re costs are immediately withdrawn from your bank account or social support cheque.

There’s absolutely no repayment requirement for approved one-time houses grants. *

Yes. The meeting process is extremely detailed; we shall ask detail by detail questions regarding history, latest, and potential using, budgeting (past/current), and potential money channels. The process can seem invasive; however, the goal is to determine if the applicant meets the program criteria.

*Due to COVID-19, we promote all interview are complete practically. Should you not get access to a personal computer or mobile , kindly call the Greater Victoria property safety and book Bank staff for additional possibilities.

Cheque s and electronic money exchanges become right generated out over landlords and utility businesses.