Central Nova MP Sean Fraser says the housing crisis is not only having a serious impact on those who are looking to buy a home, but those who are renting now. Fraser says the price has risen significantly and renters often don’t have access to protections they should when they run into challenging circumstances.
Fraser, who is also Canada’s Housing Minister says the federal government is rolling out three specific policies that will be included in the upcoming federal budget.
Fraser says one of those measures is a Renters’ Bill of Rights that will be developed in partnership with provinces and territories.
Fraser says the federal government will also create a $15 million Tenant Protection Fund that would provide funding to legal aid and tenants’ rights advocacy organizations to better protect tenants against unfairly rising rent payments, renovictions or bad landlords.
Fraser says there’s also a measure that would ensure renters get credit for on-time rent payments, particularly when it comes to applying for a mortgage for their first home. Fraser says under the change, a tenants history of paying rent on-time will be taken into account on their credit score when applying for a mortgage to a bank.