Trudeau proposes new reforms for renters amid housing crunch
Global News
Justin Trudeau said in an announcement Wednesday that the new reforms will "make the playing field fairer for renters," as homeownership continues to be out of reach for many.
Prime Minister Justin Trudeau has announced new measures he says will help protect Canadian renters and help them break into the housing market ahead of the 2024 budget.
He said Wednesday that the proposed three new reforms will “make the playing field fairer for renters” amid an affordability crisis making homeownership out of reach for many.
“It’s too hard to find an affordable place to rent, especially for younger Canadians. That’s why in Budget 2024, we’re taking action to protect renters, make the rental market fairer, and open new pathways for renters to become homeowners,” Trudeau said in a press release.
The proposed measures aim to amend the Canadian Mortgage Charter to allow tenants to count on-time rent payments toward their credit score, and propose $15 million in new funding to provincial legal aid organizations to better protect tenants against unfair rent payments, renovictions or “bad landlords,” the release says.
The government is also proposing a new Canadian Renters’ Bill of Rights which would require landlords to disclose the history of a property’s pricing so renters can bargain fairly.
Trudeau says the bill will “crack down on renovictions, create a nationwide standard lease agreement, and give renters more agency.”
“Renters deserve credit for the money they put toward rent over the years, especially when it comes time to apply for a mortgage for their first home,” the release said.
This year’s federal budget will be tabled in the House of Commons on April 16 and is expected to focus heavily on housing.
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