Fraser Valley REALTORS® donate $5,000 to the Rent Bank

Earlier this month, Board President Charles Wiebe presented a cheque for $5,000 on behalf of our membership to the Sources Community Resources Society’s “Rent Bank,” a community program that assists low income renters financially to help them from becoming homeless.

“As Realtors we believe everyone deserves a home, so I’m proud that our board is able to help the Rent Bank with this donation,” said Charles Wiebe, President of the Fraser Valley Real Estate. “And frankly, if it prevents even one person from becoming homeless in our region, then there is no disputing what a very worthy program this is.”

The Sources Rent Bank was set up in 2010 to help people at risk of homelessness by offering them short-term no interest loans for rent, damage deposits, and utility debts. Sources has found that when a personal crisis or unforeseen expense hits people already living on a low income, the loss of housing is a fundamental risk that negatively impacts their life.

Last year Sources’ Rent Bank helped 29 families from falling into homelessness through their loan service and another 450 to access other supports.

“We are very proud of our Sources Rent Bank program and we are grateful to the Fraser Valley Real Estate Board for supporting it,” said Sandra Galbraith, Director of Employment and Community Services at Sources Community Resources Society. “As a ‘prevention plus’ service, not only are we helping families to avoid becoming homeless, but we are also offering them the opportunity to pay-it-forward. When an individual repays a loan, they help another person or family to avoid homelessness which can be a very empowering experience.”

The Rent Bank also offers coaching to help people improve their skills to better manage their finances and connects them with other services to obtain any other benefits they are eligible to receive.

Because the Rent Bank receives no core funding the program has relied entirely on fundraising, donations, and community grants to assist approximately 500 individuals and families each year.   Sources operates out of several of community resource sites throughout White Rock, Surrey, Delta, and Langley.

For more information on the Rent Bank, click here.