Toronto Tenants Launch Rent Strike Against Above-Guideline Rent Increases

Over 100 tenants in a Thorncliffe Park apartment complex have launched a rent strike in protest of proposed above-guideline rent increases (AGIs) of nearly 10 percent over the past two years, according to a tenant advocacy group. 

The Federation of Metro Tenants’ Associations (FMTA) shared copies of 2022 and 2023 notices with CBC Toronto, revealing that residents of 71, 75, and 79 Thorncliffe Park Drive were notified of rent increases ranging from 4.94% to 5.5%, compared to last year’s 4.2% increase.

Many of the apartment complex’s tenants are immigrants, and some of them believe that the AGIs are more of an attempt to push them out of their community.

The Landlord and Tenant Board (LTB) has yet to approve the AGIs. In Ontario, landlords can only increase rent for existing tenants per the province’s annual rent increase guideline, set at 2.5% this year. AGIs, however, allow landlords to impose an additional 3% per year for three years for capital expenditures like major repairs or renovations.

If approved, the AGIs could be applied retroactively to tenants who had not been paying the increase since 2022 or had not agreed to pay the proposed AGI last month. Philip Zigman, an organizer from FMTA, acknowledged that these types of rent increases are legal but criticized the disparity in financial responsibility, with tenants unable to afford the increases while landlords can afford renovations and maintenance.

Some tenants participating in the strike have already received eviction notices, according to Zigman. 

Starlight Investments and the Public Sector Pension Investment Board (PSP Investments) own the buildings. The company, which is responsible for the day-to-day operations, stated that it applied for AGIs after improving the buildings’ structure and safety. They expressed disappointment with tenants withholding rent payments and emphasized that participating in the rent strike could jeopardize a resident’s tenancy.

Starlight stated that it would continue to offer rent relief to struggling tenants, but participating in the rent strike would be considered a potential breach of the rental agreement. 

The Thorncliffe Park rent strike, which began on May 1, is the second in Toronto triggered by above-guideline rent increases, highlighting growing concerns over affordable housing in the city.


Information for this story was found via Global News, CBC News, Toronto Star, Twitter, and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Silver @ $36 & We’re Still 200M Oz Short | Paul Andre Huet – Americas Gold and Silver

Gold’s Wild Bull Run: Are Markets About to Break? | Mike McGlone

First Majestic Silver: The Santa Elena Mine

Recommended

Goliath Resources Closes Out Funding Round With Total Gross Proceeds Of $27.1 Million

Silver47 Kickstarts 4,000 Metre Drill Campaign At Red Mountain Project

Related News

Rent-Striking Thorncliffe Park Tenants To Get Evicted

Tenants in Thorncliffe Park, an apartment complex in Toronto who have been protesting above-guideline rent...

Wednesday, June 21, 2023, 03:13:00 PM

Canada’s Financial Watchdog Releases Campaign to Advise People Who Can’t Afford Their Homes

As many Canadians continue to face financial strain, the federal government has launched a new...

Monday, March 11, 2024, 08:11:48 AM

Homeownership Feels Out of Reach for Many Canadians

A new CIBC survey reveals that 76% of Canadians who don’t own a home feel...

Friday, April 12, 2024, 08:06:37 AM

Housing Crisis? What Housing Crisis? 2022 Budget Falls Short of Making Homeownership Affordable for Canadians

After sending every single budget into a free-fall deficit since being elected in 2015, the...

Friday, April 8, 2022, 03:41:00 PM

Housing Has Become So Unaffordable That Australia Now Permits Friends to Buy A House Together

The federal government of Australia, “moving to meet the times,” has expanded the eligibility criteria...

Monday, May 1, 2023, 02:19:00 PM