Thorncliffe Park Drive Tenants Protest Above Guideline Rent Increases

Tenants in Thorncliffe Park Drive buildings owned by Starlight Investments and PSP Investments are protesting against above-guideline rent increase (AGI) applications filed by the landlords. The tenants, led by Sameer Beyan, have been withholding rent for almost a year, arguing that the proposed increases of 5.33% to 6.37% would be devastating for their already strained budgets.

The landlords claim the increases are necessary to cover the costs of building renovations and that they are following provincial laws. However, tenants say the costs should not be passed on to them and that the buildings are still in disrepair despite the investments.

Why this matters: The situation highlights the tension between tenant protections and housing providers' need to maintain aging rental stock. The protest is part of a broader trend of rent strikes across the city as tenants push back against rising unaffordability.

Experts weigh in on the issue, with one stating that AGIs help pay for major projects, while another argues that corporate landlords may be targeting these buildings to generate higher returns. The AGI applications may be part of efforts to change the character of the area.

"The proposed increases would be devastating for our already strained budgets," said tenant leader Sameer Beyan. The tenants' protest underscores the growing concern over housing affordability in the city, as renters struggle to keep up with rising costs while landlords seek to maintain and upgrade their properties.

Key Takeaways

• Tenants protest above-guideline rent increases by Starlight and PSP Investments.
• Landlords claim increases cover building renovations, tenants say costs shouldn't be passed on.
• Protest part of broader rent strike trend as tenants push back against unaffordability.
• Experts debate if AGIs help maintain aging rental stock or target buildings for higher returns.
• Tenants say proposed increases would be devastating for their strained budgets.