Federal Budget to Establish Renters' Bill of Rights, Legal Aid Funding to Improve Housing Affordability
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The federal government will create a new "Canadian Renters’ Bill of Rights" requiring landlords to disclose rental price history to prospective tenants.
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A new $15 million fund will be established to support provincial legal aid services in protecting tenants from issues like unfair rent increases.
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The government will amend the Canadian Mortgage Charter to allow rental payments to be incorporated into credit histories, making it easier for renters to qualify for mortgages.
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The upcoming federal budget on April 16th will focus on housing affordability, jobs, and fiscal responsibility.
-Rental demand outpaced supply across most major Canadian markets last year, with vacancy rates dropping and rental costs surging.