Canada’s Innovation Minister François-Philippe Champagne announced on Thursday that the federal government will be launching an investigation into the “Yield Star” landlord price-fixing scheme. This comes after widespread reports of landlords in Canada colluding to fix rental prices in an attempt to maximize their profits at the expense of tenants.
The scheme, known as “Yield Star,” has been criticized for its impact on housing affordability in Canada. Many renters have reported being unable to find affordable housing due to artificially inflated rental prices set by landlords participating in the scheme.
Champagne stated during question period that the federal government is committed to ensuring fair and competitive rental markets for Canadians. He emphasized that price-fixing schemes such as “Yield Star” are illegal and will not be tolerated.
The investigation into the “Yield Star” scheme signals the government’s determination to crack down on unfair practices in the rental market. Champagne’s announcement has been met with widespread support from tenant advocacy groups and organizations working to improve housing affordability in Canada.
As the investigation unfolds, many are hopeful that the findings will lead to greater accountability for landlords participating in price-fixing schemes. Tenants across Canada are eagerly awaiting the results of the investigation and are hopeful that it will bring about positive change in the rental market.
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Video ““Yield Star” landlord price-fixing scheme to be investigated, Canadian official says” was uploaded on 10/31/2024 to Youtube Channel Global News