Toronto Rent Bank

The Toronto Rent Bank, a partnership between the City of Toronto and Neighbourhood Information Post, provides grants to eligible Toronto residents who are behind on their rent or need help with a rental deposit. By providing these grants, the Toronto Rent Bank ensures that people at risk have the support they need to stay in their homes and prevent homelessness.

To be more responsive to the needs of low-income individuals and families during the COVID-19 pandemic, the Toronto Rent Bank has modified its annual household income eligibility criteria. Residents may be eligible for a rental arrears grant or rental deposit assistance if they:

• live in Toronto
• pay market rent for a rental unit covered by the Residential Tenancies Act
• fall within the low-income household eligibility requirement
• are not currently in receipt of social assistance such as Ontario Works (OW) or Ontario Disability Support Program (ODSP)*
• can satisfy other Toronto Rent Bank Program requirements, as required

*Residents in receipt of social assistance should contact their Ontario Works (OW) or Ontario Disability Support Program (ODSP) office as they may qualify for the Housing Stabilization Fund.

Adapting the Toronto Rent Bank to the COVID-19 Pandemic

The City has made significant program changes to the Toronto Rent Bank to respond to the needs of low-income households during the COVID-19 pandemic.

These program changes were described in a report to Economic and Community Development Committee in March 2021 and include the following:

• investing an additional $5 million in the program
• converting the Toronto Rent Bank program from a loan to a grant as a pilot until March 31, 2022
• freezing all Rent Bank loan repayments

The changes to the Rent Bank program supported an additional 750 households access loans and grants to stay in their homes, for a total of 1,062 householders served in 2020.

Grant Amounts

Toronto Rent Bank grants for rental arrears are up to $4,000 or three months rent or whichever is the lower amount.

For rental deposits, grants are based on unit size as follows:

• $1,500, bachelor unit
• $1,700, 1-bedroom
• $1,900, 2-bedroom unit
• $2,100, 3-bedroom or larger

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