Improving transparency and accountability.
That’s what Perth-Wellington MPP Matthew Rae says is behind his private member’s bill, Bill 141 also known as the Life Lease Act, which goes before the Standing Committee on Heritage, Infrastructure and Cultural Policy on Tuesday.
Under a life lease, a buyer purchases an interest in a property which gives them the right to occupy it for a long period.
Rae says the bill is intended to solidify and clarify some of the responsibilities of operators and residents and adds it’s one solution for the housing crisis.
He says there are some bad actors out there and he wants to make sure that seniors, who often live in the properties, aren’t taken advantage of.
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