toronto rent bank logoThe Toronto Rent Bank, a partnership between the City of Toronto and Neighbourhood Information Post, provides support to Toronto residents who are behind on their rent or need help with a rental deposit. By doing so, the Toronto Rent Bank ensures that low-income individuals and families are able to stay in their homes and avoid homelessness.

While the Toronto Rent Bank has previously provided low-interest loans, during the COVID-19 pandemic the City made significant program changes to the Toronto Rent Bank to respond to the needs of low-income households.

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

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

The changes to the Rent Bank program supported a total of 1,717 households to access loans and grants to stay in their homes in 2021.

Toronto Rent Bank grants for rental arrears are up to $4,000 or three months’ rent, 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

Residents may be eligible for a rental arrears grant or rental deposit assistance if they:

  • are behind on rent
  • currently live in or are moving to Toronto
  • pay market rent for a rental unit covered by the Residential Tenancies Act
  • can provide proof of current or pending employment and are not currently in receipt of social assistance such as Ontario Works (OW) or Ontario Disability Support Program (ODSP)*
  • are the sole applicant for their household
  • are on the lease as a lease holder or an occupant to qualify, however, if this is not the case, applicants may still apply and an intake worker can assist applicants meet this requirement
  • have a total household income that is the same as or less than the amounts listed below

 

Family Size Maximum Household Income
1 $46,500.00
2 $52,000.00
3 $58,000.00
4 $66,500.00
5 $78,500.00
6 $84,531.67
7 $91,366.66

 

Note: Applicants who do not have identification can still apply and an intake worker will work with them to obtain the required documents.

Applicants are not eligible for Toronto Rent Bank support if:

  • they have an RRSP balance in excess of $6,000
  • they have received Toronto Rent Bank support within the last 12 months

Applicants whose rental arrears exceed $4,000, or three months of rent, may still apply and will receive assistance from an intake worker to help negotiate a repayment plan with their landlord.

Other criteria will be considered on a case-by-case basis, in collaboration with the Toronto Rent Bank intake worker and Neighbourhood Information Post (NIP).

*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.

Typically, applications require a minimum of five business days to process. In urgent situations, application approvals can be expedited provided the applicant has all the documentation ready.

Currently, the City is evaluating the one-year pilot of the Toronto Rent Bank program as a grant-based program model. Later this year, City Council will consider recommendations and determine if Toronto Rent Bank support will remain a grant or revert to a loan program.

In addition to English, Toronto Rent Bank offers services in the following languages:

  • Arabic
  • Cantonese
  • French
  • Lingala
  • Mandarin
  • Italian
  • Serbian
  • Spanish
  • Tamil
  • Tigrinya
  • Twi
Download the flyer for the Toronto Rent Bank in your language of preference:

While the Toronto Rent Bank only covers rental arrears and deposits, Toronto residents who need assistance paying utility arrears can apply to the Emergency Energy Fund (EEF) at 416-397-7368 or the Low-Income Energy Assistance Program (LEAP) at 416-924-2543.

For more information about resources to support low-income tenants in Toronto, call 211 or 311.