One of the fastest growing segments of the homeless population in British Columbia is those over the age of 55 鈥� but non-profits and government programs are working to keep seniors in their homes.
Rent banks are among the ways local non-profits help people facing a sudden financial setback stay in their homes.
The Sources Rent Bank isn't just for seniors, but its oldest users were 77, 87, and 88, according to Minakshi Bagai, director of employment services at Sources Community Resource Centres.
Bagai explained that a rent bank makes small loans 鈥� the maximum is $1,800 鈥� to people facing a one-time financial crisis that could cause them to fall behind on their rent and lose their housing.
"We can give them an interest-free loan that can span 12 months to 36 months," Bagai said. Most loans are set to be paid back over two years, with the borrowers paying back $55 to $60 a month.
The financial crisis could be anything, but Bagai said some reasons include a sudden illness that prevents a member of the family from working, or a temporary job loss.
Sources Rent Bank makes between 170 and 200 loans a year. Originally funded by Sources' own fundraising, it now gets part of its funding from BC Rent Bank, a non-profit that is under the umbrella of the Vancity Community Foundation.
Sources covers North Delta, Surrey and White Rock, and 黑马磁力, but non-profits backed by the B.C. Rent Bank provide the same service across the rest of the province, Bagai said.
The biggest marketing vector for the Sources Rent Bank is its past users, Bagai said. Many people hear about it from their peers when they find themselves facing a rent crisis.
Non-profits like Sources have their own resources, like the rent bank, but they can also help direct clients to other services, including government programs.
A key provincial program that is aimed specifically at seniors is the Shelter Aid for Elderly Renters program (SAFER) which recently saw some expansions, along with the wider Rental Assistance Program (RAP).
SAFER provides a subsidy for low-income seniors in rental accommodations. The cost of rent in B.C. has rocketed up over the past decade, which can have a major impact on seniors on a fixed income.
"With the rising cost of living, we're enhancing supports through the RAP and SAFER programs to ensure more families and seniors can access essential financial help," said Housing Minister Ravi Kahlon said in early April.
Starting on April 1, both RAP and SAFER expanded their eligibility criteria and increased their average benefits.
The household eligibility income limit for SAFER rose from $37,240 to $40,000, a change which is expected to benefit as many as 1,600 more seniors, raising the total SAFER recipients as high as 25,000.
The average supplement was also increased by nearly 30 per cent, bringing the average monthly subsidy for existing seniors to $337.
