Montreal to offer interest-free rental loans for struggling tenants

Montreal is launching a new initiative to help struggling tenants avoid eviction by offering interest-free loans for rent payments. The city will provide up to $5,000 to vulnerable households at risk of losing their homes, with loans repayable over five years.

The program aims to assist around 150 families and will be managed by Maison du Père, a non-profit organization that previously piloted the initiative. This move comes just before Quebec's July 1st moving day, a period when many renters transition to new leases.

Mayor Soraya Martinez Ferrada highlighted that the housing crisis is driven by affordability issues rather than a lack of available units. She stressed the importance of intervening before tenants are displaced to maintain housing stability and reduce turnover. The city has allocated funds for the program but has not disclosed the total cost to taxpayers.

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