PSP Investments targeted in Toronto tenant rent strike
According to a report published by the Toronto Star, the federal crown corporation known as PSP Investments, responsible for investing the pension savings of various federal government employees, has been identified as the owner of a set of apartment buildings in Toronto where tenants have been engaged in a sustained rent strike against their landlord, Starlight Investments. Since May of 2023, a group of tenants, including Ateel Siddiqi, have been withholding their rent in protest of what they consider to be unfair and unlawful rent increases that are above the provincial rent increase guidelines.
Tenants say many issues started when the landlord purchased the buildings in 2019 and began doing construction. They say they experience daylong water shutdowns two or three times per month, a lack of heating in some apartments and that all apartments regularly lose hot water.
Additionally, during the pandemic when many people worked or studied from home, there was loud and frequent work on balconies…Ateel Siddiqui said it was a “disaster” for her autistic son.
When a reporter from the Star reached PSP Investments about the matter, they responded:
Our expectation is that [day-to-day operator] Starlight Investments ensures that buildings in our joint portfolio are well-maintained and safe and secure for the residents.”
The full article is is available on the Toronto Star website, though behind a paywall.