ACTION UPDATE: Power is Staying ON at 76 Sydney St S!
Posted October 22, 2026
Tenants at 76 Sydney St. S in Kitchener faced the threat of losing electricity because of unpaid utility bills owed by their landlord, SIREG Management. But thanks to swift action by ACORN and supporters, the power is staying on! Despite paying their rent, residents were left fearing the loss of essential services, including electricity, lighting, building security, and life safety systems. Tenants should never have to suffer the consequences of their landlord’s financial mismanagement.
When ACORN learned about the situation, we immediately launched an online action calling on Enova Power, Premier Doug Ford, the Minister of Energy, and the Ontario Energy Board (OEB) to intervene and protect tenants. Dozens of urgent messages were sent to decision-makers, demanding that tenants not be punished for their landlord’s unpaid bills. Following this collective pressure, it was announced that the building’s power would remain on! This is an important victory for tenants and a reminder of what can happen when communities come together and take action.
The Bigger Problem: Financialization of Housing
While we celebrate this win, the situation at 76 Sydney St. S highlights a much larger problem: the growing financialization of housing.
Across Ontario and Canada, tenants are increasingly dealing with the consequences of housing being treated as an investment opportunity rather than a basic human right. Corporate landlords, real estate investment trusts (REITs), and private equity firms prioritize profits while tenants face rising rents, deteriorating building conditions, and threats to their housing security.
As Elliot Wand, Secretary for Waterloo Region ACORN, put it:
“[SIREG] wasn’t just gambling with money, they were gambling with people’s homes.”
No tenant should have to worry about losing essential services because their landlord fails to meet their financial obligations.
Background on SIREG:
According to CBC: “Ontario’s condominium management regulator is investigating SIREG Management after the company told investors it could no longer guarantee rent payments, leaving some owners scrambling to collect rent directly from tenants.The investors for many of the 21 buildings SIREG operates have been left scrambling, with some showing up to units to collect rents from tenants in person. The company runs about 1,800 condo units across Ontario including Sarnia, Kitchener, Welland, North Bay and London’s Kipps Lane.Some tenants at Kipps Lane in London told CBC News they didn’t know they were living in investor-owned condo units because their rent cheques went to SIREG.”