this post was submitted on 31 Oct 2024
50 points (100.0% liked)

Canada

7241 readers
139 users here now

What's going on Canada?



Related Communities


🍁 Meta


πŸ—ΊοΈ Provinces / Territories


πŸ™οΈ Cities / Local Communities

Sorted alphabetically by city name.


πŸ’ SportsHockey

Football (NFL): incomplete

Football (CFL): incomplete

Baseball

Basketball

Soccer


πŸ’» Schools / Universities

Sorted by province, then by total full-time enrolment.


πŸ’΅ Finance, Shopping, Sales


πŸ—£οΈ Politics


🍁 Social / Culture


Rules

Reminder that the rules for lemmy.ca also apply here. See the sidebar on the homepage: lemmy.ca


founded 4 years ago
MODERATORS
 

Cynthia Black believes her rent has been rigged.

Since 2022, the Toronto resident says she has twice faced annual rent increases of either seven or 11 per cent β€” depending on the lease type her household was offered β€” in two Livmore buildings owned by GWL Realty Advisors, a division of Canada Life.

"The hikes have never made any sense. And when myself and other tenants sat down and asked [GWLRA] to please stop raising rents so high, they told us they use software called YieldStar to help determine our rents," she told CBC's The National.

But in June, she says YieldStar came up again β€” only this time it was in the news, as the FBI was investigating the company that owns it, RealPage, and landlords who use it for alleged collusion, price-fixing and artificially inflating rents across the U.S.

you are viewing a single comment's thread
view the rest of the comments
[–] Voroxpete 5 points 1 month ago* (last edited 1 month ago)

That's precisely my point. This is price fixing, very obviously so, but it's almost impossible to actually prevent because at some point as long as people in an industry can share information and have an incentive not to undercut each other, behaviour that is indistinguishable from price fixing - even if it could not legally be defined as such - will inevitably emerge. When I say this is price fixing, that's not a legal judgement, just an observation of what the behaviour clearly is, regardless of how it would be legally defined. If it looks like a duck, etc. I'm going to call it price fixing because that is the ultimate effect that it has.

Hence my point that ultimately the only solution to this is aggressive rent controls.