^TIPSUseful incentives available for B.C. renters

Inflation is in the headlines and cost of living is up. Here are some useful and available incentives for renters in B.C. as of 2023.

B.C. Renter’s Tax Credit:

A one time $400 cash payment/tax credit for eligible renters in BC tied to the 2023 tax return.

Eligibility:

• Renters with adjusted incomes of $60,000 or less will receive $400, those with incomes between $60,000 and $80,000 will receive a reduced amount
• renters need to have rented for more than 6 months in 2023

For more information on the Renter’s Tax Credit, visit: https://www2.gov.bc.ca/gov/content/taxes/income-taxes/personal/credits/renters-tax-credit

Rental Assistance Program (RAP):

Provides monthly assistance for rent for low income working families renting in the private market

Summary:

• funds are a provincial shelter subsidy provided directly to the applicant’s bank account
• funding amounts range from a few hundred to maximum of $1250 per month
• funding amount is based on: “…a percentage of the difference 30 percent of your gross household income and your rent…”

Eligibility:

• household income less than $40,000
• have dependents
• less than $100,000 in assets
• does not live in subsidized housing

For more information on RAP and how to apply visit: https://www.bchousing.org/housing-assistance/rental-assistance-programs/RAP

Shelter Aid for Elderly Renters (SAFER):

Provides monthly funding for low income seniors renting in the private market.

Summary:

• funds are deposited monthly into applicant’s account
• Funding amounts are up to $900 per month

Eligibility:

• aged 60+
• pay more than 30% of gross before tax household income towards rent
• monthly income less than $2,750 for couples and $2,550 for singles (for Vancouver)
• does not live in subsidized housing

For more information on SAFER and how to apply visit: https://www.bchousing.org/housing-assistance/rental-assistance-programs/SAFER

Vancouver Rent Bank:

Provides no interest short term loans for renters in Vancouver in distress due to temporary financial situations.

Funds can be used for:

• past due rent
• past due utilities
• security deposits / first month’s rent

Funding maximum: $1300 for individuals and $1800 for families

Eligibility:

• low income
• experiencing temporary financial crisis
• for a full list of qualifications and application procedures, visit: https://www.niccss.ca/services/vancouver-rent-bank/

BC Hydro Free Upgrades:

Provides free upgrades to improve comfort and energy efficiency for income qualified households. Available for both renters and owner occupiers.

Includes:

• LED light bulbs and night light
• High-efficiency showerheads
• Faucet aerators
• Door weather stripping
• Insulating wrap for hot water pipes
• Clothes drying rack
• Carbon monoxide detectors
• ENERGY STAR® fridge replacement
• High-efficiency gas furnace replacement (for eligible FortisBC gas customers only)
• Insulation in walls, attic, or crawlspace
• Portable air conditioner*

Eligibility is based on household income and number of people in the household. For more information and how to apply, visit: https://www.bchydro.com/powersmart/residential/rebates-programs/savings-based-on-income/free-product-install-and-advice.html

BC Hydro Customer Crisis Fund

Provides one time funding for residential customers – renters and owner occupiers – experiencing temporary financial crisis and are behind on BC Hydro bill. Grant amounts are up to $800.

Eligibility:

• account overdue by 21 days or facing disconnection, although can apply as soon as accounts are overdue
• experienced a life event within last 12 months i.e. loss of employment or income, unanticipated medical expense, death in family
• outstanding balance less than $1000
• For more information and to apply, visit: https://app.bchydro.com/accounts-billing/bill-payment/ways-to-pay/customer-crisis-fund.html#eligible