Why the Liberals ‘Renter Bill of Rights’ May Be Our Next Useless Boondoggle
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- เผยแพร่เมื่อ 1 เม.ย. 2024
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Today, I assess Prime Minister Justin Trudeau's new policy announcement for a new "Renter's Bill of Rights" which would create a system to show all historical rental prices for a unit and start to include payment of rent in credit reporting - will these measures actually help renters?
Read my full analysis on the Move Smartly Blog here: www.movesmartly.com/articles/...
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What a joke! Tons of million dollars to be wasted 😢
But it looks good for all the low info voters. The country is a disaster and joke now. Trudeau doesn’t care
Maybe it is a tactic to find out who is renting that is not reported. To tax landlords.
Bingo
It just took me 3.5 years to get rid of a bad tenant here in Brantford Ontario. 18 months at LTB and then 2 years at the Superior Court of Ontario.
My bro rents out a semi-detached house in Toronto. Tenants in the bottom half ceased payment and changed the locks immediately upon moving in. The guy he dealt with for the lease doesn’t even seem to be living there. He is still waiting for a 1st hearing at the housing tribunal 10 months later and counting. He’s even stuck paying for their electricity and natural gas. It’s insane. The lack of protections for landlords from predatory renters will only reduce supply and increase costs even more.
They can build an APP for that 😂 .. along with hiring consultants to study how to implement the program. Without government growth Canada's unemployment rate would be much higher and there would be no denying that we are in a recession. Desperation is the word that comes to mind. Unfortunately, there are many uneducated voters that will fall for the misinformation governments spew. Thanks for truthfully informing the public.
You mean, the educated voters from GTA, GVA that voted in JT 3 times? The 'uneducated' voters are much smarter than that.
The last time government was a sponsor of an IT project (ArriveCan app), it turned out to a huge cost overrun.
The credit score thing is punishing people with bad credit, especially for people already living paycheque to paycheque. It's expensive to be poor. People with bad credit will now have to pay a premium on rents because no landlord will want to rent to them without a premium. They already have to pay a premium because they don't have a credit card, and now their rent too. Such a slap on the face.
People who have to choose between paying rent or feeding their kids will now feel pressured to let the kids go hungry, yet Trudeau tries to spin this as a benefit to poor renters.
If someone can't pay debts on time, they shouldn't live in an expensive city but rather move to smaller, less expensive towns to rebuild credit. Credit score isn't dictated by how much money you have, but how responsible you are about financial commitments.
This will be a positive for good tenants as well as landlords. Delinquent tenants will be exposed by their bad rent payment record of late or non payments. It can only be good for everyone else.
I found an old shopping receipt from a couple of years ago in my car the other day. Oddly enough, when I took it to the grocery store later that day, the manager didn’t care what I had paid for stuff back then.
Seems like the people designing these projects all already own homes and haven’t rented in decades…
Thank you for debunking this infomercial. Looks like they missed out on clearly identifying the problem statement. Throwing “solutions” that result in no impact is not only irresponsible towards our economy and people but deceptive. Do I go to the grocery store and tell the cashier the tomato-can used to cost $1 2 years ago, honour me this price or I will report you? No, the market supply and demand dictates the price here similar to rental price. the problem is supply of housing (building permits, workers, material, bylaws etc) and demand for housing (immigration and not Canadian born residents). Also what does a credit score mean? You pay your dues on time, that's it. It's only 1 element of a potential home buyer's financing application. If your credit score is 900 because you pay rent on time, but your salary is $60K, no bank would qualify you for a mortgage on a $500K property, simply because the math doesn’t meet the bank requirements. The problem to qualify for financing is home price and borrowers income. Whatever is being presented in this infomercial seems to target people who have no idea how the system works. Sadly they are leveraging people’s illiteracy on these topics to manipulate the public with familiar terms like “credit score” “price history” into believing something that isn’t founded with facts. An ultimate disconnect with reality. Another episode of poorly spent tax dollar.
I worked for the Federal Civil Service for 40 years. I watched the start of new programs. Whole new bureaucracies. Endless supply of money. Contractors at $1000 a day. Now there was the idea of value for money but the civil servants who had the idea were at odds with those who merely wanted bigger budgets. Like Justin Trudeau.
This all sounds incompetent and crazy, until you realize that they need to assign contracts to friends for the last stretch before they all get their pensions and sail to the sunset.. this is so infuriating, these people need to go to pay for what they did to us
this is good for landlords cause will be easy to spot a bad tenant my friend. hopefully late payment and no payment will be post in EF and transunion right a way... good-bye bad tenants and open room we won't need it anymore
Justin Trudeau and the liberals forced everyone to rent and now theyre gonna help you 😂😂
It’s a social credit scoring system. It is very useful for the government.
This happens bc we have a elementary school teacher as PM 😂
Not to mention he was charged with touching a young woman student. At one point
I agree with everything except for the use of the word "may" in the title.
The credit portion seems like it’s implemented on behalf of landlords.
We’ve seen more and more rental strikes take place - and allowing a landlord to ruin one’s credit highly discourages those from occurring. It basically makes those that participate unable to ever get a rental again for 7 years? The feds are basically threatening tenants with homelessness if they take any action against the landlord class.
Further, it risks the jobs of tenants who need loans for cars and other business expenses.
I find the policy disgusting.
And that’s before you even think about the number of people already struggling to afford rent who do not have rent control. The amount of people this will hurt far outnumbers those who benefit. The feds are just that evil.
Poor renters will now feel pressured to pay rent rather than feed their kids.
@@jonathanhardy8683 it’s more like landlords will be able to double or triple rents and renters will not have any methods to fight back. And if tenants cannot pay or find a new place in time - the federal government is going to ruin their credit on top.
It’s legalized extortion.
But the previous tenant paid $1500. OK sir, these 25 other people in line are interested and will pay the $2500 I am asking.
*This Policy was made by a drama teacher who has never had to pay rent or a mortgage and his father paid for all his luxury vacation ski trips* hahaha..
Agreed
Perfect unwrapping of the policies. Political stunt. Do-not using kinda of policies.
I like the idea of rent payment history being reported to credit bureaus. As a landlord, it is one more tool to assess the suitability of a tenant. One single late payment that ends up on that tenants credit history? Sorry - your application has just hit the "round bin". Totally not interested in sob stories why someone is late with their rent. When tenants come to know this, they are more likely to keep up with rent payments in the same way as homeowners do (they stop making mortgage payments as a last resort). It will take years however, before there is sufficient data in the credit reports to assess the creditworthiness of tenants (based on rental payments). In the meantime, credit scores remain a proxy for a tenant's payment history.
Having rent on their credit score could deter problem tenants you would otherwise not pay the rent
👎 you are wrong . government has to look at long-term benefits