TORONTO, March 20, 2017 /CNW/ - The Federation of Rental Housing Providers of Ontario (FRPO) believes that today's announcement of a private member's bill by NDP MPP Peter Tabuns is premature and, if passed, will weaken the province's rental housing market, limit consumer choice, chill building renewal initiatives and the development of new purpose-built rental product, and worsen the affordability challenges facing today's consumers.
"While we welcome a fulsome discussion with members of the government, opposition and third party members about the future of the province's rental sector, we believe that today's approach will only hurt tenants and the overall supply of rental stock in Ontario," says FRPO President and CEO Jim Murphy. "Changes to current legislation, no matter the intention, must be made in consultation with the industry. Delivering new, much needed, purpose-built rental housing, an affordable marketplace, and vital tenant protections doesn't demand individual legislative pronouncements, but thoughtful and sound policy that reflects the voices of those directly impacted."
Given the fluidity of current public housing issues and the pending federal policy announcement FRPO believes that it is premature to make provincial rental housing decisions in this environment. Rather, the organization believes that a fulsome dialogue must be maintained with various stakeholders to ensure the continued health of the sector. This includes discussions as to any changes to the existing legislation.
"Peter Tabuns proposal to unwind the legislation regarding rental housing built after 1991 will not warm the rental housing market for consumers, but chill the development of new housing," says Jim Murphy. "While the vast majority of rental housing in Ontario was built prior to 1991, and therefore not exempt from 'rent control legislation', the implementation of the so called "1991 Exemption" is the single most important driver for the development of new, badly needed purpose-built rental housing."
According to a recent report by Urbanation, the 27,000-new purpose built rental units proposed for this year is three times greater than what was introduced just a year earlier. Any changes to the existing legislation, made without consultation, will put thousands of units and millions of dollars in provincial revenues at risk.
The Federation of Rental Housing Providers of Ontario (FRPO) is the province's leading advocate for quality rental housing. FRPO represents over 2,200 rental housing providers who supply and manage homes for over 350,000 tenant households across Ontario. www.frpo.org
SOURCE Federation of Rental-housing Providers of Ontario
For further information: Jim Murphy, President and CEO, FRPO, Phone: 416-385-1100 ext. 20, Email: email@example.com; Danny Roth, Brandon Communications, Phone: 416-414-9064, Email: firstname.lastname@example.org