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Major residential landlords signal flexibility for tenants in need during outbreak

TORONTO — Some of Canada’s biggest landlords say they’re committed to working with tenants who have lost their job because of the coronavirus pandemic.

The signals come as efforts to contain the outbreak have led to huge business disruptions and surging unemployment levels that have made many Canadians worried about how they will pay next month’s rent.

The unprecedented times have led some tenants to call for an all-out rent strike, but major rental companies are urging those who are able to pay their rent to do so, while offering assistance to tenants who find themselves in need.

Mark Kenney, CEO of Canadian Apartment Properties Real Estate Investment Trust, says the company is committed to working with those who have suddenly lost their job, and is “violently against” evicting anyone who’s in distress.

He says, however, that he’s worried about the roughly 80 per cent of landlords in Canada who are small-scale owners of units who won’t have the same flexibility.

Various other major rental companies including Northview Apartment REIT, Greenwin Corp., MetCap Living, and Boardwalk REIT have also issued notices to tenants, asking them to reach out if they are in financial distress and have committed to various degrees of support.

This report by The Canadian Press was first published March 30, 2020.

Companies in this story: (TSX:CAR.UN, NVU.UN, BEI.UN)





The Canadian Press

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