Posted on May 4, 2021
TODAY, ACORN membership will fan out across the country to tell MPs that it is time to REIN in the REITs! The government needs to stop giving MASSIVE tax breaks to highly profitable corporate landlords who are systematically making rental housing in Canada unaffordable!
Currently we have 30 MP Picket locations for our May 4th Day of Action, in Burnaby, Surrey, Edmonton, Calgary, St. Catherines, Oshawa, Mississauga, Whitby, Toronto, Ottawa, Moncton, Saint John, and Halifax!
IF there is one in your area, we hope to see you there.
If not, you can click here do our online action to Rein in the REITs.
Don’t forget to share the online action through social media after finishing it!!
What is REIN in the REITs?
Real Estate Investment Trusts or REITs are big corporate landlords that are destroying Canada’s affordable rental housing.
HOW? They pursue aggressive tactics like buying up affordable housing, pushing out tenants so they can raise the rent, and not doing capital repairs.
YET, governments are incentivizing billionaire landlords like CAPREIT, Starlight, and Killam to raise our rents and make us live in substandard conditions. The Federal government gives them sweetheart tax deals so that they don't have to pay taxes.
What we are demanding from the MP’s:
1) END the tax exemption for REITs and tie tax rates to the amount of affordable housing REITs preserve or destroy.
2) CMHC needs to put affordable housing preservation conditions on all financing agreements with REITs
3) Give non-profits, co-operatives and land trust organizations the right of first refusal on all apartment building sales and provide them with capacity building resources to participate in the market.
Together we can win this campaign!