80 SIREG Tenants Join Province-Wide Meeting Amid Bankruptcy Scandal

SIREG also known as the Simple Investor Real Estate Group has gone bankrupt, leaving tenants confused and scrambling. SIREG was responsible for roughly 1,800 units across Ontario. 

According to CBC: “SIREG’s business model was sold as a hands-off way for investors to own rental real estate. Starting in the 2010s, the company bought apartment buildings and converted them into condominiums, with units sold to investors who run them as rentals…In most cases, owners had no contact with tenants or even knowledge of who they were.” 

While much of the news coverage has been focused on owners losing out on their investments, very little has been said about the horrific situation many tenants find themselves in. At ACORN’s online meeting there were many horror stories shared by tenants: 

• A woman who is 9 months pregnant lives on the 9th floor of a SIREG building on Kipps Lane in London with no working elevators. 
• Tenants have signed a lease with SIREG, paid first and last month’s rent, but don’t have keys to the unit. One is meant to move in November 1st. 
• Garbage is piling up, heat isn’t on, stairwells have drug paraphernalia and human feces that aren’t being removed. Tenants’ maintenance requests aren’t being responded to. 
• Tenants are receiving letters claiming to be the owners or new property management for their unit. Many letters don’t provide any proof of ownership – just demanding e-transfers and automatic withdrawals for rent to be paid. 

The meeting featured a presentation by ACTO to provide general information on tenants’ rights, answer pressing questions and make referrals to local community legal clinics. 

Quinn Meridew facilitated the meeting as a new member of ACORN and as a tenant of one of SIREG’s kitchener buildings. Quinn concluded the meeting with the importance of tenant organizing, the power of building tenant unions and next steps for tenants wishing to get organized with ACORN. 

Are you a SIREG tenant? Contact [email protected] if you live in London or [email protected] if you live elsewhere in the province.