Ready to Rent BC (R2R) has adapted a successful model from Portland that combines tenancy education, a completion certificate that acts as a reference, and landlord guarantee fund (LGF). This combination helps youth who may face barriers access good housing and have successful tenancies. LGFs are key in reducing landlord concerns related to turnover and damages, and can be a positive deciding factor when choosing to rent to a young person. The Portland LGF demonstrates an increase in tenancy length, reduction in stigma and, since the introduction of the Landlord Guarantee Fund, only 0.6% of tenancies have ever had a claim submitted for damages.
R2R, in partnership with communities, provides effective education and certificate recognized by BC Housing and BCNPHA members. Determining how to implement a Landlord Guarantee Fund is the next step. R2R will partner with Aunt Leah's Place, the Friendly Landlord Network (FLN) and youth advisers to research implementation, operation, and sustainability of an LGF for youth in care. While the FLN will serve as the primary case study for initial implementation, the research project will develop a 'How To' toolkit for broader use. The project activities will also engage key stakeholders including youth, community organizations, landlords and property managers. The scope of research will also include financial models for scaling and identify potential sources of seed funds for establishing an active LGF.