The first of several housing-related pre-budget announcements, on March 27th, 2024 the Federal Government announced that it plans to launch a $15 million Tenant Protection Fund to support legal aid and tenants’ rights advocacy organizations. 

The Federal Government will also be working with the provinces and territories to develop and implement a Canadian Renters’ Bill of Rights. This would include requiring landlords to disclose a rent history for the unit, measures to address renovictions, and the creation of a standard lease agreement. 

Finally, the Federal Government plans to amend the Canadian Mortgage Charter and call on landlords, banks, credit bureaus, and fintech companies to take rental history into account as part of an individual’s credit score. 

Review the news release for more details.