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As workers grapple with layoffs and reduced income, many Canadians have begun calling on governments to outright cancel rent and mortgage payments.
Nearly 775,000 individuals have signed a petition calling on the federal government to do just that. Others have urged hard-hit Canadians to keep their rent this month.
“There is a movement right now in the City of Vancouver – on Facebook and Twitter and social media – where there’s this call of unity to band together and not pay rent,” said Goodman Commercial Inc. principal Mark Goodman.
“There’s a naivety out there that’s not being properly addressed,” he explained. “There is a domino effect. We are all connected, and this call to action for tenants not to pay is going to have devastating consequences, not just for housing providers, but for entire communities.”
Goodman Commercial recently surveyed a dozen multi-family property owners of varying sizes, from small family-owned operations to large institutional investors. The firm’s data found that between 1% and 50% of those landlords’ tenants didn’t pay their rent this month.
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