Vision, COPE push "rent bank" to prevent evictions

In the final week of an election campaign where affordable housing was consistently raised as an issue, Vision Vancouver and COPE candidates have issued a joint pledge to create a "rent bank" for renters in crisis.

“In a city where more than 50 per cent of our citizens rent, Vision and COPE are the parties that will stand up for renters and push for more rental housing. The NPA has zero credibility on rental housing and have no plan for Vancouver renters," said Mayor Gregor Robertson in a press release. 

“The fact that Suzanne Anton and the NPA think the ‘market’ is the solution to every housing challenge in Vancouver shows how out of touch they are. Renters can't afford to risk voting NPA.”

The release went on to quote COPE candidate Ellen Woodsworth, heself a renter whose affordable row house of 32 years has just been sold.

"COPE and Vision have worked together this term to pass a new affordable housing plan that includes new rental housing, a task force on renters’ rights, and now the development of a rent bank — this is crucial for seniors, youth, families and immigrants who are all finding it difficult to pay their rents,” Woodsworth was quoted saying .

Rent banks, which operate in many Canadian cities, including Surrey and Toronto, in general provide short-term emergency loans for qualified renters in crisis.

The release notes that more than half the residents of Vancouver rent their accommodation, that there are more than 67,000 rental units in the city, with 55,000 of the units more than 40 years old. It also said that more than 14,000 renter households in Vancouver spend more than 50 per cent of their income on rent.