Nanaimo Region Rent Bank

In January 2021, the City worked in partnership with the John Howard Society, now known as Connective Society, and BC Rent Bank (BCRB).  The City provided $90,603 to help implement Nanaimo’s first rent bank project. In September 2023, the City provided an additional $75,000 to the Nanaimo Region Rent Bank (NRRB) to provide further supports to areas of key housing need as identified in the 2023 Housing Needs Report.

A rent bank is an eviction prevention and housing stability service that provides interest free loans to low-to-moderate income renter households facing eviction or in need of assistance to pay essential utilities because of a short-term financial crisis. In addition to financial services, rent banks provide valuable connections to government benefits, debt consolidation, financial literacy, employment resources, and other community-based services that are focused on a supporting a renter beyond their immediate crisis.

Connective Society operates the Nanaimo Region Rent Bank (NRRB) and serves residents living in the City of Nanaimo and greater Nanaimo Regional District. Financial assistance is provided to residents by providing an interest free loan and a flexible plan for payback.  Often the payback is planned over a 24 to 36-month period. The maximum amount loaned is $500 for utilities, $1,700 for rent for single-family households and $2,000 for family households.