B.C. Rental Protection Fund surpasses goal, secures nearly 2,200 homes

More than 2,000 homes in British Columbia are now protected under the province’s Rental Protection Fund, giving thousands of renters greater housing stability and access to affordable rents.

Launched in 2023 with a $500-million provincial investment, the fund works with non-profit housing providers to purchase rental buildings at risk of being sold to the private market. This approach helps ensure tenants can remain in their homes and communities without facing sudden rent increases or evictions.

The fund originally aimed to secure 2,000 homes over three years. That target has been exceeded in under three years, with additional units continuing to be added as funding allows.

“When we established the Rental Protection Fund, we understood that people thrive when they have safe, secure homes without living in fear of being evicted or sudden rent increases,” said Christine Boyle, Minister of Housing and Municipal Affairs. “By surpassing our goal so quickly, we’re showing that protecting homes people already rely on is one of the most impactful tools we have to ease pressures on renters.”

Katie Maslechko, CEO of the fund, said long-term renters are already feeling the benefits. “It means not having to worry about being forced to leave the home they’ve built their lives around. This is why the fund was created — it’s the kind of impact already reaching thousands of renters and one that will only continue to grow,” she said.

The program highlights provincial efforts to address housing affordability and stability as communities across B.C. face rising costs and limited rental availability.