Frequently Asked Questions
What is a rent bank?
Rent banks are more than lenders. They are housing stability and homelessness prevention resources. They work with clients experiencing financial shocks and housing insecurity, and they take a range of approaches to address these issues holistically.
Rent banks provide:
- financial assistance to tenants who are unable to pay rent or essential utilities due to an unexpected short-term crisis;
- support for tenants who are unable to pay damage deposit or first month's rent;
- critical supports that can lead to more stabilized and sustainable housing.
Critical supports include:
- advocating on behalf of individuals to landlord/tenancy boards, utilities corporations, etc.;
- mediating and guiding conversations between individual tenants and their landlords and others;
- referrals to other agencies for access to food, clothing, transportation support, and more;
- helping tenants access government subsidies, grants programs and/or benefits for which they may be eligible.