How It Works
Information about what you need, who can apply, how to apply, and the steps to get funding.
What is the funding for?
The Rental Protection Fund provides capital contributions to non-profit housing organizations to help them purchase existing, occupied, purpose-built rental buildings – and retain their affordability and stability over time.
Contributions from the Fund fill the equity gap to support these acquisitions, and support the capacity and growth of the non-profit housing sector throughout communities in B.C.
Who is eligible?
Non-profit societies, housing cooperatives, Indigenous housing providers, and charitable organizations incorporated under relevant Canadian legislation are eligible to pre-qualify. Pre-qualified organizations can submit applications for funding to acquire existing, occupied affordable rental housing that is at-risk of significant rent increases or redevelopment.
How long will it take?
This is an applicant-led process - including what, where and when.
This means that once a non-profit housing operator is pre-approved, they need to ensure they have an acquisition property, the partners, financing and underwriting in place to bring forward proposals to the Fund.
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3 stage process
There is a three-stage process for applicants seeking contributions from the Rental Protection Fund
Stage 1
Applicant pre-qualification
Purpose: Ensure your organization meets basic eligibility before pursuing a property.
Applicants must demonstrate organizational readiness—capacity, mission alignment, and operational requirements. This step is done independently of any specific property.
- You must complete this step to move forward
- Review the Eligibility Criteria before applying.
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Stage 2
Property pre-qualification
Purpose: The Fund will confirm whether the property meets its criteria before submitting a formal application.
If you're pre-qualified and have a potential property in mind, submit a Property Inquiry. The Fund will confirm whether the property meets its criteria before moving into due diligence.
- This step is mandatory before submitting a proposal.
- Only proceed if the property meets Fund eligibility.
Stage 3
Acquisition proposal
Purpose: Present a full proposal backed by due diligence and financing.
Applicants must now submit a formal Acquisition Proposal, including property details, due diligence materials, and a financing plan. Fund contributions must be paired with long-term secured financing and lender commitment
- Complete due diligence before submitting
- Lender commitment is required at this stage.
Acquisition decision
Committee Review
Acquisition Proposals will be reviewed by an Investment Advisory Committee (IAC).
Recommendations
The IAC will recommend projects based on criteria set out by the Fund to the CEO for final decision.
Final Decision
Final funding decisions for proposals are made by the Fund’s Chief Executive Officer.
How applications are evaluated
The Investment Advisory Committee evaluates funding applications based on how well each proposal aligns with the Fund's mission: to leverage and catalyze investment into the community housing ecosystem to drive transformative growth. Applications are reviewed for financial readiness, impact, and long-term sustainability. Key evaluation criteria:
Alignment with Fund Goals
Does the investment protect purpose-built rental homes from redevelopment or significant rent increases?
Affordability Impact
Will the acquisition support both immediate and long-term affordability?
Efficient Use of Funds
Are Fund resources being used to generate the biggest impact for the community housing sector - e.g. Acquisitions reflect fair market value and leverage diverse funding sources?
Geographic Equity
Does the acquisition contribute to regional balance in how the Fund's resources are distributed?
Capacity to Deliver
Has the applicant demonstrated the ability to successfully acquire and manage the property?
Secured Financing
Is the applicant well-positioned to secure the financing necessary to acquire the property?
Capital Project Planning
If major repairs are required, has the applicant shown how they will manage the project within scope, schedule, and budget of their Capital Plan?
Long-term Asset Stewardship
Is there a sustainable plan in place to manage and maintain the property for the long-term?
Still have questions?
Find detailed answers about eligibility, funding, and how the Rental Protection Fund supports community housing.