Non Profit Feature : Toronto Rent Bank
Last December the team at Dufferin Media adopted a charity for a full year of digital marketing services and we chose the Neighbourhood Information Post. This organization has a number of programs that help with the most vulnerable residents of one of Toronto’s lowest income neighbourhoods. We unanimously voted for this organization once we saw all of the programs that they offered and the amount of people they were helping cope with poverty, housing, and loneliness.
Through our connections at the Neighbourhood Information Post we were asked to assist with a larger project called the Toronto Rent Bank that offers Interest Free Loans to residents across the city. Through a special proposal to the City of Toronto we were able to access a small grant fund for the Toronto Rent Bank to create an awareness campaign so that more people in need would know where to turn when they needed help to avoid homelessness.
Recently I attended a meeting where a number of agencies were present to discuss the Toronto Rent Bank program and it was very evident that Toronto is in the midst of a terrible Housing Crisis. There are a number of factors feeding into the crisis which include rising housing and apartment prices, reductions in social assistance, and the rise of Air BNBs. However one of the biggest identifying factors that these agency representatives all agreed on was that the rise of pay day loan services was crushing the financial wellbeing of the population that they identify as the “working poor”.
That is the main target user of the Toronto Rent Bank, in addition to seniors and some users on social assistance. But the majority of the people that the Toronto Rent Bank is trying to help are those that are employed or earning income but are still struggling to get by. If they in arrears on their rent, and facing eviction the Toronto Rent Bank offers Interest FREE loans with fast turnaround and flexible repayment schedules to help residents stay in their homes.
Benefits to Landlords
The Toronto Rent Bank offers a huge benefit to Landlords as well. There is value in keep existing tenants as there can be high costs associated with eviction and rental turnaround. I highly encourage Landlords to learn more about this program and refer tenants that might qualify for assistance to reach out to the Toronto Rent Bank INSTEAD of going to a pay day loan service.
Pay Day Loan Services can create a crushing cycle of debt for the borrower and cause further financial problems to our economy down the road.
**There are interesting statistics about how much money homelessness costs our economy, our government and tax payers** I am grateful that the City of Toronto has such a forward thinking program that they fund every year, and I hope that city counsellors will even consider increasing the funding and the budget so that the Toronto Rent Bank can expand the number of people that they can help avoid homelessness in the city.
For more information about the Toronto Rent Bank visit their website:
Or any of their social media profiles.
Coming soon the team at Dufferin Media will be working on a Press Release and media awareness campaign, and expanding the social media efforts.
It is one of my goals to apply my knowledge, skills, and experience in digital marketing with the experience I have gained volunteering at the Orangeville Food Bank to work with more non-profit organizations. I’m very grateful for the opportunity to be involved in spreading awareness for the Toronto Rent Bank. Thanks to the team at Neighbourhood Information Post for including me.