Rental
Fund
The Rental Protection Fund safeguards affordable housing, building a more sustainable and equitable future for British Columbians.
The most affordable housing we have, is the housing we've already got
The Rental Protection Fund and the Province are making historic investments in the Community Housing Sector to slow this loss and secure this affordability for current and future generations.
Since its launch in 2023, the Fund has prevented the loss of affordable housing at a rate of 40 homes per week, protecting existing units while expanding the capacity of the community housing sector.
The affordable housing gap
Middle-income renters are increasingly struggling. Incomes have not kept up with housing costs and cost burden has significantly increased in the last 10 years. These households often do not qualify for subsidized programs but are unable to afford market rents.
British Columbia has lost nearly 100,000 units renting below $1,000 per month between 2016 and 2021 - a trend that has accelerated in recent years. For every new affordable rental home that is built in B.C., four more are lost to investors, conversions, demolition and rent increases, preventing British Columbia from keeping pace with the demand for affordable housing supply serving both current and future residents.
Our funding approach
Learn more about how we distribute the funds to achieve housing affordability for all.
Community Ownership
Pre-qualified non-profits play a vital role in enhancing affordable housing through the Rental Protection Fund.
Capacity
Building
Investing in people, organizations, and the tools they need to lead affordable housing into the future.
Retention Renewal
Long-term impact of affordable housing by investing in building renewal and sustainable retrofits.
Our impact
The Rental Protection Fund helps prevent the loss of affordable rental homes by moving them out of the private market and securing them permanently in the community housing sector, ensuring long-term affordability for renters across B.C.
homes protected
communities across BC
percent below market rents
Housing security transforms lives
For Sonya Devost, a long-term tenant of the Claymore apartments, the sight of a "For Sale" sign on her lawn brought intense anxiety and uncertainty, fueling fears of eviction and displacement from her community. New Vista’s acquisition, backed by the Rental Protection Fund, ensured tenants like Sonya could remain in their homes and communities without fear of losing them.
“Last night was the first full night I slept, knowing that these guys are coming, and we were gonna be taken care of. My heart rate has gone back to normal, and I’m so happy to live here.”
The properties
The Rental Protection Fund has protected the affordability of 35 properties across British Columbia from Port Hardy to Vancouver to Vernon.
2860 & 2865 Packard Avenue, Coquitlam
3940 Pender Street, Vancouver
430 Michigan Street & 1500 Chambers Street
3806 24th Avenue, Vernon
211 Moilliet Street, Parksville
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