Alberta's new rent subsidy program needs another $20 million to keep it running past September, says the associate cabinet minister responsible for the program.

The province announced in early May that it would help those who couldn't pay their rent in Alberta's red-hot housing market.

But the $9-million program is already out of cash, said Yvonne Fritz, the new associate affordable housing minister.

Fritz said she isn't fazed by the fact the money was supposed to last until next March.

"It's been enormously successful, which is great news," she said. "It says to me the affordable housing task force really did hear the stakeholders, heard what the community really did want to see in place."

Need stronger measures, Opposition says

But the Opposition Liberals say what is needed is temporary rent controls, a ban on condo conversions and a properly managed rent subsidy program.

"We have a real, legitimate, palpable crisis on our hands and over the short term, it requires solutions that you wouldn't normally want to go for over the longer term," said Dave Taylor, the Liberal housing critic.

With a vacancy rate hovering at about half a per cent and very few new rental accommodations under construction in Calgary, it's tough for renters to find a place to live.

Small business owner Reed Smith has seen the rent on his apartment nearly double, from $1,000 to $1,950. Smith was turned down when he asked the government for a rent subsidy.

"Even though I make a real modest and humble living, we just didn't fall into the lowest of low bracket."

Smith said the subsidy is only a Band-Aid solution, adding that he wasn't surprised to hear it has already run dry.

"You can only throw money at it for so long and the money runs out and obviously we are seeing it wasn't enough money."

Province decided against recommended caps

A provincial task force charged with coming up with solutions to Alberta's affordable housing crunch had recommended a provincial cap on rent increases for the next two years.

But the Tories passed a new provincial act passed in May that didn't include rent controls.

Instead, landlords will be allowed to increase rents only once a year instead of twice. Those wanting to evict a tenant in order to make major renovations or convert an apartment to a condominium will have to give at least a year's notice and won't be allowed to increase the rent during that time.