1/3 of Canadian Renters Don’t Know If They Can Afford Their May Rent

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1/3 of Canadian Renters Don’t Know If They Can Afford Their May Rent

More than a third of Canadians don’t know if they can afford this month’s rent, due impacts from the pandemic.

According to a recent study by ACORN Canada, 35% of Canadian tenants said they can’t cover their May rent and are depleting their savings during the pandemic.

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“They had to ask for family loans or for a high interest loan,” said ACORN’s Alejandra Ruiz to CTV News. “This is not OK, especially when we have a pandemic, and you are in debt.”

The study also found 70% of respondents have been impacted financially by the pandemic. And yet only about 42% of them qualify for benefits, like the CERB or EI.

The B.C. government is offering $300-500 a month to help cover rent, but many say it’s not enough.

Organization LandlordBC is calling on property owners and the provincial government to offer $750 subsidies for renters without dependants and up to $1,000 for families.

“The survey is an eye opener to the state of renters in the country and it clearly demonstrates that much more needs to be done to support tenants in this time of health and economic crisis,” reads the report.

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