Addressing Canada’s housing crisis requires more than expanding the availability of affordable homes. It also calls for funding that will enable Canadians to not only immediately secure housing but remain stably housed – especially during times of financial hardship that could otherwise put them at risk of housing insecurity.
“We all know increasing the supply of affordable housing is the long-term solution, but construction takes years,” says Amy Bolt, director of programs at Partners for Affordable Housing, a national non-profit organization that connects public, private and philanthropic partners with community housing providers. “We need a solution that bridges that gap – helping people find homes now and stopping homelessness before it starts.”
With this in mind, Partners for Affordable Housing is launching the Tenant Stability Fund, a program designed to help Canadians in need get into existing rental housing, maintain their rents during times of uncertainty and onto a clear pathway to housing stability. Delivered through trusted non-profit organizations, the fund will invest in innovative, proven strategies such as rental assistance, eviction prevention programs and other tenant-support services.
The fund will be established and maintained with donations from philanthropic individuals and organizations, with a launch target of $2-million. To date, $645,000 has been committed – including $250,000 each in Calgary and Canmore, along with $100,000 from BMO and $45,000 from Peoples Group to catalyze the fund nationally. Partners aims to raise an additional $1.4-million, beginning disbursements in spring 2026.
“Inspired by our purpose – to boldly grow the good in business and life – BMO is deeply dedicated to strengthening Canadian communities,” the bank said, noting its broader $12-billion financing commitment and $5-million in philanthropic funding for affordable housing initiatives.
Behind these national investments lies a simple goal: to help people stay in their homes.
“The idea with the Tenant Stability Fund is to provide immediate relief to households so they can access existing housing on the rental market,” says Ms. Bolt, adding that the fund will back organizations with demonstrated capacity and community roots.
For early donors, the fund represents a chance to turn compassion into tangible action, keeping Canadians housed through life’s challenges.
“There are countless Canadians searching for deeply affordable places to live and unable to cover rent and basic necessities. By investing in proven strategies like rental assistance and eviction prevention, we can help ensure that everyone has the foundation of a stable home,” says Sharon Siebens, a founding donor to the Tenant Stability Fund.
Mark Aston, CEO at Covenant House Toronto, calls the fund “a strong and scalable piece of the solution to homelessness.”
The organization, funded primarily by donors, has supported more than 100,000 young people over its 40-year history – proof that philanthropy can play a vital role in addressing Canada’s housing crisis.
Covenant House, which supports youth experiencing or at risk of homelessness, recently received a $900,000 gift – introduced through Partners – to expand its Bridge Program. Mr. Aston notes that chronic homelessness among youth has grown in Toronto in part because many young people can’t afford rent while they study or work entry-level jobs.
“With the Tenant Stability Fund, philanthropic dollars can quickly unlock existing units, allowing young people to move into safe, affordable housing with the right supports,” explains Mr. Aston.
While philanthropy has not traditionally supported housing solutions – in large part because that responsibility has long been assumed by governments – there are proven models of philanthropy-supported programs for people who are homeless or at risk of being homeless, says Mr. Aston. Covenant House is one of them.
“To a potential donor, it might sound a little mundane that you’ll be helping to provide rental assistance, but it’s absolutely life-changing to the people you’re helping,” says Mr. Aston. “The potential you’re unlocking is incredible because once people have a home, they can begin to plan their lives. We’ve seen how two to three years of stable housing changes a life.”
The private sector, too, is stepping up, acknowledging that housing stability is the cornerstone of both community and economic well-being.
“At Peoples Group, we view housing as a foundational element of economic and social stability, something every Canadian should be able to rely on. Today, that foundation is under strain. This is why we are proud to support the Partners for Affordable Housing Tenant Stability Fund,” said John Landry, president and CEO at Peoples Group, a Canadian financial institution with a strategic focus on multi-family mortgage financing.
Leslie Allen, CEO at WIN House, an Edmonton shelter for women and children, says tenant stability funding can make the difference between a woman and her kids moving into safer housing or staying in an abusive home. It also allows shelters like WIN House to provide an emergency refuge for women and children fleeing domestic violence.
“If a fund can top up rents to, say, 30 per cent of income and cover operating gaps, then we can move families into real homes faster and keep our doors open for the next crisis,” says Ms. Allen, noting that WIN House had to turn away 2,000 women seeking emergency shelter last year because there simply was no room.
Many of these women ended up staying in hotels for days or returning to their abusers.
“Affordable housing isn’t a nice-to-have – for the women we serve, it’s the first step to rebuilding a life,” she says. “That’s why it’s important to support initiatives like the Tenant Stability Fund.”
Ms. Bolt at Partners says the benefits of supporting housing stability go beyond the people who get the support. Society at large also stands to gain, for instance: every $1 invested in eviction prevention and housing stability saves between $2 and $6 in emergency system costs.
In a country full of generous people – charitable donations in Canada hit a record high of $12.8-billion in 2023 – the Tenant Stability Fund provides a new way for philanthropy to play a transformative role in affordable housing.
“It’s a great opportunity to make a difference,” says Ms. Bolt. “With a donation of $10,000 or $100,000, you can help transform the lives of hundreds of families immediately.”
This article was originally published on November 20, 2025, as part of the National Housing Day special feature in The Globe and Mail, produced by Randall Anthony Communications.