A CMHA Kelowna program that provides financial support to help renters stay housed has had a financial boost from the Central Okanagan Foundation.
The Central Okanagan Rent Bank provides interest free one-time loans and emergency grants to local families and individuals facing financial hardship that jeopardizes their immediate ability to pay rent or stay in their homes. The Central Okanagan Foundation recently donated $50,000 to the program to help meet the skyrocketing demand for support. Last year, the rent bank program saw a 49% increase in the number of loan requests.
CMHA Kelowna’s CEO, Mike Gawliuk says he doesn’t expect the demand to decrease any time soon. “More people are feeling the impacts of inflation and high rents and finding it harder to keep up financially.” Gawliuk says the rent bank program is a critical tool in preventing evictions by creating a financial lifeline where people may not have access to other resources. “There are people and families in our community who are one crisis away from losing the roof over their head; a small investment now to secure someone’s home is a significant investment in their mental health.”
In 2023, CMHA Kelowna received 431 applications for the Rent Bank program and gave out $31,304.21 in loans and $74,630.08 in grants. Applicants complete a pre-assessment to determine program eligibility. Abbie Norrish, Manager of Grants & Community Initiatives at the Central Okanagan Foundation says they stepped in with the funding in response to the unprecedented need.
“The Central Okanagan Foundation recognizes that stable housing is fundamental to community well-being. This strategic investment will help individuals and families retain their homes, helping to address the increasing need and creating a more resilient community for everyone.”
CMHA Kelowna launched the program in 2021 through funding and support provided by the BC Rent Bank - which supports a network of 18 different community led rent banks in BC. Beyond the loans and grants provided by the program, program staff offer additional support and connection to community resources to help people better navigate potential future financial challenges.