Rent Bank Loans

The City of Toronto offers interest free loans to residents of the City of Toronto for first and last month’s rent and for tenants who have fallen into arrears with their landlords.

Ineligibility 
It is important to note that if your household receives Ontario Works (OW), Ontario Disability Support Program (ODSP), and if this makes up MORE THAN 51% of the household income you WILL NOT QUALIFY for the Rent Bank. In this case you must contact your case worker and access the Housing Stabilization Fund (HSF).
As well you WILL NOT QUALIFY if your place of residence is in a subsidized unit.

 

General Information

 

Rent Bank: Arrears
  • You may qualify for up to two months of rent. If you owe more than TWO months of rent you must be able to prove that you can either pay the remaining balance OR have a written payment arrangement with the landlord for the remaining amount. If you would like more information on how to negotiate with your landlord a payment arrangement click here.
  • The total amount of money a person can be eligible for is $3500.00, which breaks down into the following calculation:
    • 2 months of rent + Landlord Tenant Board Fees + Sheriff Fees
  • Payment will be mailed to the property management company or if the landlord is considered a private landlord, the landlord will pick up the cheque.

Rent Bank: First and Last
  • You may be eligible for the following amounts:
    • Bachelor – $800/month
    • 1 Bedroom – $ 1000/month
    • 2 Bedroom – $1200/month
    • 3+ Bedroom – $1400/month
  • Payment will be mailed to the property management company or, if the landlord is considered a private landlord, the landlord will pick up the cheque.

Eligibility Information

 

Rent Bank: Arrears
  • You must reside within the City of Toronto. If you live outside of the City of Toronto please contact your municipality’s Rent Bank for more information

 

  • The lease must be in your name.
    • If the lease is not in your name, you may provide:
      • Mail that is addressed to you at the address
      • Legal Affidavit from a Legal Clinic stating you live at the address
      • A letter from the landlord saying you are a resident

 

  • You must have received an N4, L1, or a Landlord Tenant Board order. If you have received a Sheriff notice please contact us immediately and notify the receptionist as we may be able to stay the eviction.
    • When applying for the Rent Bank, the documents must be current for the month and disclose the complete amount owed to the landlord.
    • If you have not received an official eviction notice you must be able to provide a Tenant Ledger that states how much you owe in rental arrears.

 

  • If you are employed, receiving Canadian Pension Plan (CPP), Ontario Student Assistance Program (OSAP), Employment Insurance (EI), or Insurance payouts you do qualify for Rent Bank. You must provide 4 payment stubs.
    • If you have just started a new employment opportunity and have yet to received 4 payment stubs, you must provide a letter from the employer stating how many hours you work and your rate of pay.

 

  • If you are self-employed you must provide a ledger of income made or awaiting receipt, as well as expenses for your business.

 

  • If you are a roommate one or both of you may apply.
    • If only one roommate is applying they can only apply for their share of the rent.
    • The landlord must provide a written letter stating the amount that is paid and has been paid by each roommate.

 

  • If there are dependents in the household who are UNDER 21 and are in school they must provide a school timetable.

 

  • If there are dependents in the household who are OVER 21, they must provide proof of income or a student timetable.

 

  • You may also be required to provide the following:
    • 60 days of bank statements for all accounts regardless of the amount in the accounts
    • Child Tax Benefits Stub
    • Child Support Documentation
    • Day Care Receipts
    • Photo Identification
    • Birth Certificates
    • Pre-authorized debit form or void cheque

Rent Bank: First and Last
  • You must reside within the City of Toronto. If you live outside of the City of Toronto please contact your municipality’s Rent Bank for more information.

 

  • You must provide one of the following two items from the new residency:
    • Intent to Rent Form – Click Here to download the Intent to Rent Form. Or drop by our office to pick up a paper copy.
    • Lease

 

  • You must provide documentation from where you currently reside:
    • Letter from shelter
    • Mail addressed to applicant
    • Current lease
    • Letter from current Landlord verifying residency
    • Legal affidavit from a legal clinic stating where you live.

     

  • If you are employed, receiving Canadian Pension Plan (CPP), Ontario Student Assistance Program (OSAP), Employment Insurance (EI), or Insurance payouts you do qualify for Rent Bank. You must provide 4 payment stubs.
    • If you have just started a new employment opportunity and have yet to received 4 payment stubs, you must provide a letter from the employer stating how many hours you work and your rate of pay.

 

  • If you are self-employed you must provide a ledger of income made or awaiting receipt, as well as expenses for your business.

 

  • If you are a roommate one or both of you may apply.
    • If only one roommate is applying they can only apply for their share of the rent.
    • The landlord must provide a written letter stating the amount that is paid and has been paid by each roommate.

 

  • If there are dependents in the household who are UNDER 21 and are in school they must provide a school timetable.

 

  • If there are dependents in the household who are OVER 21, they must provide proof of income or a student timetable.

 

  • You may also be required to provide the following:
    • 60 days of bank statements for all accounts regardless of the amount in the accounts
    • Child Tax Benefits Stub
    • Child Support Documentation
    • Day Care Receipts
    • Photo Identification
    • Birth Certificates
    • Pre-authorized debit form or void cheque
CALL US TODAY TO FIND OUT MORE INFORMATION ON HOW TO APPLY FOR A RENT BANK LOAN

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