Tri-Cities SHARE Rent Bank

Eligibility Requirements:

• 19 years of age or older
• Resident of or moving to the Tri-Cities (If seeking damage deposit)
• Willing to provide two pieces of government issued ID (One with a photo)
• Cannot have any outstanding Rent Loans with us or other organizations
• Be a legal Canadian resident: Citizen, Permanent resident, Landed Immigrant, or Convention Refugee with minimum of two years in Canada
• Have a personal bank account (In Canada)
• Have a temporary financial crisis Provide reason of inability to pay rent or/and utilities
• Have a regular and verifiable source of income sufficient to cover rent/utility and other expenses
• You are not residing in social housing. These include and are not limited to BC Housing, Transition Housing. If yes, only security deposit and utilities loan can be discussed
• Have no undischarged bankruptcy
• Willing to provide proof of source of income, proof of tenancy, and 3 months of up to date bank records/statements
• Can demonstrate that the loan will stabilize your situation long-term (at least 90+ days)
• Do not have access to other source of financial assistance during the application period (SAFER, Rental Assistance, etc.)

Application Process:

STEP 1: PRE-ASSESSMENT FORM

Pre-Assessment form should be completed and submitted through email or in person during our business hours and they will be reviewed in the order they are received. If you do not have email access please phone and leave us a message.

For the COVID-19 pandemic period, we encourage all applicant to send their Pre-Assessment form via email. If you do not have access to a personal email, contact our Rent Bank Coordinator for other options.

Please note submitting a pre-assessment form does not guarantee you will be able to receive a loan.

STEP 2: LOAN APPLICATION

Once we have reviewed your initial information we will discuss next steps with you. This may include asking you to complete a loan application and provide further documents.

Reviewing your circumstances and speaking with you does not guarantee you will be able to receive a loan.

STEP 3: FOLLOW-UP

The SHARE Rent Bank Coordinator will contact the applicant to discuss their application and ask for more information if necessary.

The SHARE Rent Bank Coordinator may contact the applicant’s landlord, utility provider or/and other service provider as needed and with the applicant’s permission.

STEP 4: LOAN DECISION

Completed loan applications are reviewed by a Loan Committee

Loans are approved based on Rent Bank funds being available and the applicant’s ability to repay the loan.

The SHARE Rent Bank Coordinator will advise the applicant of the Committee’s decision.

If the loan is approved, the SHARE Rent Bank Coordinator will arrange a meeting with the applicant to complete the loan paperwork which includes the loan repayment plan.

Please note that we are about housing sustainability. If the loan application does not guarantee housing sustainability, we may refer you to other resources.

End of rent eviction ban – August 31, 2020

Information for Renters, Landlords and Communities

The SHARE Rent Bank provides financial assistance to residents of Coquitlam, Port Moody, Port Coquitlam, Anmore and Belcarra  in the form of a repayable loan, to households at risk of eviction or having their hydro turned  off for reasons such as non-payment of rent or utilities. The SHARE Rent Bank can also help by providing a loan for the damage deposit on more affordable housing.  

 One of the key criteria for qualifying for a rent bank loan is that the applicant can demonstrate their capacity to repay the loan. The SHARE Rent Bank is NOT able to provide grants to help tenants pay for their housing or utilities. 

 Some tenants may be challenged to pay their full rent on September 1, 2020. If you have the means to pay a loan back in coming months, the SHARE Rent Bank may be able to help if you are a Tri-cities resident (Coquitlam, Port Moody, Port Coquitlam, Anmore, Belcarra). 

 If you are an existing rent bank client the SHARE Rent Bank will continue to work with you. If you have fallen further behind in paying rent during the pandemic, your initial rent bank loan may no longer be serving you as a means of maintaining your housing stability. Please reach out to us to see if we can help.

 If you have not yet established a repayment plan with your landlord for your unpaid rent or utilities in the pandemic, we encourage you to work with your landlord as your first step on that repayment plan. 

 If you do not qualify for a rent bank loan, please visit the BC Housing’s website for more information on rental assistance options that may be available to you. 

For more information on whether you qualify for a rent bank loan, please contact the SHARE Rent Bank at 604-529-5146 or email: esther.uwimana@sharesociety.ca