December 11th, 2024
December 11th, 2024
QUEEN’S PARK — MPP Bhutila Karpoche (Parkdaleؘ–High Park) was joined by tenant advocates to address the urgent need for real solutions to out-of-control rental costs.
“Housing is the foundation for stability, but unregulated rent increases make people's lives unpredictable,” said Karpoche. “How can anyone build a life when they don’t know what their largest monthly expense will be? We must ensure rent control for all units, regardless of when they were built.”
Homes that were first occupied after November 2018 are exempt from the province’s rent control guidelines, allowing landlords to make significant and unpredictable increases to tenants' housing costs. Some landlords have employed YieldStar price-fixing software – the subject of a recently-announced class action lawsuit - to rapidly raise rents at uncontrolled units.
“Tenants are facing a growing threat of price-fixing from corporate landlords using tools like YieldStar,” added Karpoche. “They deserve a government that protects them from predatory practices by delivering fair and effective rent control, so they can live with stability in a home that meets their needs.”
Additional Quotes:
“I've watched a lot of my neighbours forced out because of these rent hikes, only to see their apartments listed again at even higher rents, courtesy of the YieldStar algorithm. Passing Bill 48 would help stop financialized landlords from using programs like YieldStar to mess with the rental market and to price people out of their homes.”
“More and more renters are living with unstable homes and insecure futures as they face unlimited rent increases. Bill 48 is essential for protecting all rental units, without exception. This is a common-sense approach to stabilizing housing costs and protecting renters from predatory increases.”
“As tenants, we keep hearing that “the market” is raising rents. Rents don’t just magically go up. Landlords raise them and the Conservative government is not only letting them get away with it, but they’re making it easier for them to do so. The solution is quite simple: just bring back rent control for all.”
“Around the world, we see that protecting tenants through policies such as rent control and tenant empowerment is not just possible but essential. In Ontario, eliminating loopholes to make rent control universal will provide immediate relief to tenants across the province."