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Prime Minister Justin Trudeau makes a housing announcement on March 27, 2024. Image: CPAC video capture

Feds propose new protections for renters

By Brad Perry Mar 27, 2024 | 2:51 PM

We are getting a preview of some of the measures that will be included in the upcoming federal budget.

Prime Minister Justin Trudeau unveiled three initiatives Wednesday that are aimed at helping Canadian renters.

Trudeau said his government plans to create a Canadian Renters’ Bill of Rights in partnership with provinces and territories.

“It would create a nationwide standard for lease agreements, give renters a clear history of apartment pricing so they can bargain fairly, and make sure they have more agency,” Trudeau said during a news conference in Vancouver.

The prime minister said they will also set aside $15 million for what he called a Tenant Protection Fund.

According to a news release, the legal aid fund is meant to protect tenants against unfairly rising rents, renovictions, and bad landlords.

Trudeau said steps will also be taken to ensure rental history is considered in a renter’s credit score.

“This will make it easier to qualify for a mortgage or even qualify you at a lower rate,” he said.

The prime minister said the changes are meant to give Millennials and Gen Z, who are most likely to rent, a level playing field in the rental market.

The 2024 federal budget will be delivered on April 16.