Trudeau Unveils New ‘Tenants’ Rights’ Legislation
Prime Minister Justin Trudeau has revealed plans to introduce a new “bill of rights” for renters in the upcoming budget, with a focus on assisting younger Canadians.
Speaking at a press conference in Vancouver on March 27, Mr. Trudeau acknowledged the affordability challenges faced by many in finding housing, whether renting or owning. He highlighted that a significant portion of young Canadians are renting and allocating a considerable part of their income to housing expenses compared to previous generations.
Emphasizing the importance of renters, Mr. Trudeau outlined that the proposed renters’ “bill of rights” would establish a national standard lease agreement and mandate landlords to divulge an apartment’s pricing history to empower tenants in negotiating their rent.
Highlighting a Canada Mortgage and Housing Corporation report from 2023, which projected a need for 3.5 million new homes to be built within seven years to restore affordability in homeownership, Mr. Trudeau emphasized the importance of addressing the challenges faced by young people amidst global economic issues.
As the federal government prepares to unveil the budget on April 16, Mr. Trudeau pledged to announce additional measures aimed at promoting fairness for young Canadians and the population as a whole before the budget presentation.
