Liberals and Conservatives don’t see the urgency in cracking down on rent gouging

OTTAWA — On Thursday, the Liberals and Conservatives teamed up to let rich CEOs who hike rents off the hook by shutting down an NDP motion to investigate allegations of rent price-fixing.
NDP MP Bonita Zarrillo brought forward a motion to have parliament investigate alleged rent price-fixing in Canada using artificial intelligence (AI) software—the same AI software that the United States is currently taking legal action against. But the Liberals and Conservatives refused to debate it.

“The Liberals and Conservatives have shown once again who they really work for – rich CEOs,” said Zarrillo. “They don’t seem to think that people being unable to find housing they can afford is an urgent issue. They’d both rather cave to corporate landlords, even if it means that Canadians could be paying even higher rent. They must explain to Canadians why they’re putting their CEO friends ahead of people.”

Dream Unlimited, one of Canada’s largest corporate landlords, owns $15 billion in properties across Canada. Earlier this month, it admitted to using AI software that the U.S. government has alleged allows landlords to coordinate rent increases.

“Clearly, the Liberals and the Conservatives are not going to stand up for people who are working tirelessly but can’t keep up with rent hikes,” added Zarrillo. “but New Democrats are. We’re fighting for hope and relief, for lower rent and for things to work in your favour – not for CEOs. Despite the Liberal’s disappointing decision today, and the Conservative’s callous one, the NDP will keep fighting to lower rent and stand up to any alleged price-fixing.”
Here is the motion:

Given that,

while families are increasingly making hard choices about paying rent or keeping food on the table, corporate landlords have been buying up previously affordable apartments and raising rents to increase profits for investors;

one of Canada’s largest corporate landlords, Dream Unlimited, has admitted to using AI software that the U.S. government has alleged allows landlords to illegally coordinate rent increases, and that the software is commonly used in Canada;

today the biggest real estate investment firms collectively own close to 20 percent of the purpose-built rental units in Canada;

PSP Investments has significant investments in multi-family housing in partnership with Starlight Investments;

That, pursuant to Standing Order 108(2), the Standing Committee on Human Resources, Skills and Social Development and the Status of Persons with Disabilities undertake a study of the role of financialized landlords on rising costs in Canada’s rental market, including how the use of algorithmic pricing tools is contributing to rent increases and how pervasive this practice is across the Canadian rental market; that the Committee invite President of Dream Unlimited Michael J. Cooper, CEO of Starlight Investments Daniel Drimmer, CEO of Boardwalk REIT Sam Kolias, CEO of Mainstreet Equity Bob Dhillon, CEO of Canadian Apartment Properties Real Estate Investment Trust (CAPREIT) Mark Kenney, President and CEO of PSP Investments Deborah K. Orida, the Commissioner of Competition, and other experts and stakeholders; that the Committee hold a minimum of four meetings and report its findings and recommendations to the House; and that the government table a comprehensive response to the report.

– 30 –

For more information, please contact:
NDP Media Centre: 613-298-2166 or media@ndp.ca
View release in your browser: www.ndp.ca/news/liberals-and-conservatives-dont-see-urgency-cracking-down-rent-gouging