The NDP is urging the Competition Bureau to investigate if Canadian corporate landlords are employing the same AI software linked to an antitrust case in the U.S. This software, YieldStar, allegedly facilitates coordinated rental price increases, as highlighted in a recent lawsuit against RealPage Inc. by the U.S. Justice Department. Evidence of significant rent hikes in Canada has prompted concerns, with calls for greater transparency on how algorithmic tools are affecting rental prices for Canadians.
In their letter, NDP MPs Alexandre Boulerice and Brian Masse emphasized that 'Canadians deserve answers to how the use of algorithmic pricing tools is contributing to rent increases and how pervasive this practice is across the Canadian rental market.' This indicates a growing demand for accountability regarding the impact of technology on housing affordability.
Recent reports reveal that the average asking rents in Canada rose by 3.3% in August compared to last year, marking the slowest annual increase in almost three years. Despite this slowdown, the climbing cost of rent continues to exacerbate affordability issues within the country, underscoring the urgency of investigating potential anti-competitive practices within the rental market.
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