Canada To See 'Renters' Bill Of Rights’

Prime Minister Justin Trudeau was in Vancouver yesterday to announce an upcoming renters’ bill of rights.

"In today's Canada, more people are renting than ever before … Nearly two thirds of young Canadians rent their homes," Prime Minister Justin Trudeau made announced Wednesday in Vancouver, adding that younger people spend larger portions of their incomes on rent than other generations have.

"Maybe young people want to start a family, but they don't know how they can afford something bigger than a one-bedroom apartment."

New measures include renters getting credit for on-time rent payments.

The feds are amending the Canadian Mortgage Charter to have lenders and landlords take into account rent paid on time in a person’s credit score.

Trudeau said it is about generational fairness – making sure Millennials and Gen Z, who are most likely to rent, get a level playing field in the rental market, and eventually home ownership.

The launch of a new $15 million Tenant Protection Fund would also provide funding to legal aid and tenants’ rights advocacy organizations to better protect against unfairly rising rent payments, renovictions, or bad landlords.

In partnership with the provinces and territories, it would also require landlords to disclose a clear history of apartment pricing so renters can bargain fairly.