TORONTO — Jagmeet Singh, leader of the New Democratic Party (NDP), met with Toronto renters today to address escalating housing costs and practices by corporate landlords such as Brookfield Asset Management. Singh highlighted concerns over rising rents, unexpected fees, and eviction threats faced by tenants, while companies like Brookfield report substantial profits.
“Every person deserves a safe, stable, affordable place to live,” Singh stated. “But corporate landlords are buying up buildings, doubling rents, and displacing people to increase profits. Successive Liberal and Conservative governments have allowed this to happen for decades.”
Singh was joined by Erin Filby, a tenant whose apartment building was acquired by Brookfield Investments during Mark Carney’s tenure as Chair. Filby recounted challenges such as delayed maintenance responses and financial mishandlings, including being charged double rent, which led to additional financial penalties due to bounced payments.
“Getting a response to any issue we have is taking longer than it ever used to,” Filby said. “The first month they were in charge, they took two months’ rent out of my account. I called them immediately, but it took too long for them to put the money back in. My budget is tight, and because of that delay, other bills bounced, and I had to pay insufficient fund charges.”
Filby, who resides in a rent-controlled unit, expressed fears that Brookfield might pursue evictions to redevelop the property, potentially tripling its size and displacing current residents. “To us, it’s home. To them, it’s dollar signs,” she added.
Brookfield Asset Management is among several financial firms increasingly dominating Canada’s rental market. A recent report identified that 70% of the largest landlords are investment companies rather than local community members. These firms have been linked to aggressive “repositioning” strategies, involving significant renovations aimed at attracting higher-paying tenants, often resulting in the displacement of long-standing residents. bam.brookfield.com+1CoStar+
Singh criticized Mark Carney’s involvement, stating, “Mark Carney helped build this system. As Chair of Brookfield, he made millions while families like Erin’s were just trying to make rent.” He emphasized his commitment to prioritizing everyday Canadians over corporate interests, especially during challenging times marked by economic uncertainties and external pressures.
“In tough times—whether it’s rising rents or tariff threats—we need someone who puts everyday people first,” Singh asserted. “I will fight for working and middle-class families because that’s who I come from, and that’s who I serve.”
