BC Rent Bank secures one-year funding extension

After weeks of uncertainty, the BC Rent Bank has received $1.3 million in funding from the provincial government.

The financial assistance program has provided emergency relief to renters across B.C. since 2019, but was not included in this year’s BC budget funding announcements.

The Rent Bank confirmed on Tuesday that a new deal was made, allowing the program to continue until March of 2027.

The government said the goal was to provide funding with the expectation that the organization would achieve self-sufficiency.

The average cost of a one-bedroom apartment in Vancouver is $2,376, according to Rentals.ca