NDP’s Zarrillo calls for lower rents by ending handouts to corporate landlords who gouge people

FOR IMMEDIATE RELEASE August 14, 2024

PORT MOODY — NDP MP Bonita Zarrillo (Port Moody - Coquitlam) is demanding that the Liberal government stop rewarding greedy corporate landlords by shutting off the flow of federal subsidies for any corporate landlord gouging tenants with massive rent hikes, or refusing to address unacceptable living conditions.
Not only will that get rents down and incentivize proper maintenance, but funds withheld from bad corporate landlords can be used to build more affordable homes in Port Moody-Coquitlam.
Zarrillo made this call while standing outside of 45 Mary Street—a former Canada Post Office that the government promised to turn into affordable housing but has continued to delay.
“Port Moody-Coquitlam has some of the highest rents in the country. Imagine paying 100 per cent of your income to keep a roof over your head, and even then, there’s a risk of demoviction from corporations,” said Zarrillo. “Under this Liberal government, that’s become a reality for people in Port Moody-Coquitlam.”
Instead of investing in creating more affordable homes, Justin Trudeau has delayed and caved to the lobbying of corporate landlords. Just like with 45 Mary Street, where, for years there has been an opportunity to turn this public land into affordable housing, but the Liberals have done nothing about it. All the while providing a menu of funds to big corporate landlords, including low-interest loans, preferential tax treatment and mortgage loan insurance.
“With the Liberals, people can’t find an affordable, stable place to rent,” added Zarrillo. “And with Pierre Poilievre and the Conservatives it will be no better. They won’t fix anything. His chief advisor is a lobbyist who works for real estate investment firms and developers, and, real estate developer executives make up much of the Conservative’s top-donors list.
While the Liberals and Conservatives are in it for corporate landlords who are jacking up rent, New Democrats want to make life more affordable for you. It’s time to end big handouts to bad apple corporate landlords and build homes people can afford, including at 45 Mary Street.”

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