Toronto tenants desperately need a Protecting Renters Fund in the upcoming budget   « Canada’s NDP

TORONTO — On Friday, Canada’s NDP Leader Jagmeet Singh and NDP candidate for Toronto—Danforth, Clare Hacksel, urged the government to establish a fund to protect renters in Toronto in the next budget. This fund would help not-for-profit organizations buy affordable housing when it’s on the market and make sure it stays affordable for renters instead of letting deep-pocketed developers buy up buildings and renovict tenants.

Under Justin Trudeau, 11 affordable homes are sold off to developers for every one affordable home that gets built.

“We’re losing affordable housing way faster than it’s being built. Just think about that: there will never be enough affordable homes if we don’t protect the ones we already have. Our communities will never be more affordable without a government that actually wants to protect renters,” said Singh. “But the 24 Liberal MPs for Toronto haven’t made life more affordable for renters. They have let people down who counted on them to deliver affordable housing, and they let big developers get richer.  

“And Pierre Poilievre isn’t the answer. He’s totally fine with letting rich developers turn affordable homes into luxury apartments. New Democrats know people deserve much better.”

When big, corporate landlords buy up buildings, people are informed virtually overnight that they’ll need to find another place to live or pay hundreds of dollars more in rent.

For those renting in Toronto the situation is especially dire. Last year, eviction notices for renters in Toronto went up 77 per cent. And the wait time to get a one-bedroom apartment in affordable housing is now a staggering 14 years long.

“For young people trying to get on their feet, new parents or seniors on a fixed income, the lack of affordable rentals can make them feel hopeless,” said Hacksel. “When tenants get renovicted by big, corporate landlords and redevelopments, there is literally nowhere for them to go. We need to build more affordable homes, but it couldn’t be clearer that we must protect the ones we have. We’re asking the federal government to protect renters by providing this fund in the upcoming budget.”