Khalil Alibi, facing a marked rent increase to $1,761 for his three-bedroom unit, argues against Starlight Investments' practices, asserting their greed should not go unchecked.
Tenants across three buildings in Thorncliffe Park, forming a rent strike, are pushing back against Above Guideline Increases, reflecting a wider trend of rising rents fueled by financial investors.
With Canada's rental prices surging by 22% in two years, housing experts point to 'financialized landlords' prioritizing investor profits over tenant affordability, exacerbating the crisis.
Research indicates major financial firms now control nearly 20% of Canada’s multi-family rental units, illustrating how escalating rents are tied to the increasing influence of outside investors.
#rent-increases #housing-affordability #tenant-rights #financialized-landlords #toronto-housing-crisis
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