Maple News reports that Prime Minister Justin Trudeau has announced the launch of a Canadian Renters’ Bill of Rights, set to be introduced in the federal Budget 2024. Speaking from Vancouver, Trudeau emphasized that the initiative is aimed at creating a fairer rental market, particularly for newcomers adapting to Canada’s growing housing costs.
One of the cornerstone measures of the new Bill is the requirement for landlords to disclose transparent rental price histories. This will offer renters—especially newcomers to Canada—more information to make informed decisions and negotiate fair lease terms.
The Bill also seeks to clamp down on “renovictions,” where landlords falsely claim they need to renovate or house family members, only to re-list the property at a higher rent. Consequences for such practices will be clearly outlined in the new legislation.
In addition, the federal government plans to establish a nationally standardized lease agreement. This aims to cut down on regional discrepancies and simplify rental terms across provinces, making the system easier to navigate—especially for immigrants or those relocating across Canada.
To help renters build financial credibility, Ottawa will push for changes allowing on-time rent payments to contribute positively to a person’s credit score. Trudeau revealed plans to amend the Canadian Mortgage Charter and coordinate efforts with landlords, banks, credit agencies, and fintech companies to ensure consistent reporting. This change could help newcomers and first-time buyers qualify for mortgages more easily.
As part of this initiative, the government will also introduce a $15 million Tenant Protection Fund. The fund will support legal aid organizations that defend tenants from unjust rent hikes, illegal evictions, and unprofessional landlord behavior.
This comes at a time when housing affordability is a growing concern. According to national rental data, the average rent across Canada reached $2,193 in February 2024—a 10.5% increase from the previous year. Rates in major cities remain significantly higher: Vancouver’s average one-bedroom rent now stands at $2,653, with Toronto close behind at $2,495.
The Renters’ Bill of Rights marks a significant step in the federal government’s efforts to address housing challenges. By introducing more transparent rental frameworks and offering credit-building incentives, the government aims to boost housing stability, especially for immigrants establishing new lives in Canada.