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New Canadian Renters’ Bill of Rights will make rent payment count towards credit score

“Young Canadians put a lot of their hard-earned money towards rent every month. We think that should count for a lot more — like towards your credit score.”

Prime Minister Justin Trudeau has announced that the federal government will implement a Canadian Renters’ Bill of Rights as part of the upcoming budget. The measure would amend the Canadian Mortgage Charter to allow prompt rent payments to apply towards a tenant’s credit score, unlocking future home ownership and borrowing ability.

As Trudeau explained during a press conference in Vancouver today, the Canadian Renters’ Bill of Rights would also create “a nationwide standard for lease agreements giving renters a clear history of apartment pricing so they can bargain fairly.”

The federal government will also invest $15-million in provincial legal aid organizations to better protect tenants against unfair rent payments, renovictions and bad landlords.

New Canadian Renters’ Bill of Rights will make rent payment count towards credit score

The 2024 federal budget will be tabled on April 16.


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