I write today as an average landlord in Toronto, burdened by the present imbalance in the rights of landlords and tenants. A landlord's plight often gets extended due to arduous eviction processes favouring the tenant, leading not only financial hardship but also a significant mental toll. Yet the errant tenant walks away with mild damage to their reputation, only to present similar problems to their next unsuspecting landlord.

However, one crucial aspect can make this system fairer - the inclusion of on-time rental payments as a factor in credit scoring. Currently, Equifax and TransUnion do not consider this significant detail while calculating credit scores.

In Canada, over 30% of people rent properties (source: Statcan). Their timely or untimely rental payments mainly show their financial discipline, a cornerstone of creditworthiness. Neglecting it when determining credit scores makes the system incomplete and unfair to landlords like me who endure consequences of delinquent renters. This change will allow landlords to have more confidence that tenants will pay their rent on time, knowing that their credit score depends on it.

We strongly believe, adding rental payment timelines into credit scores will not only fairness to the credit scoring system, but also regulate the renter’s market, creating a more equitable experience for both tenants and landlords.

Therefore, we urge Credit Bureaus Equifax and TransUnion to act responsibly by amending their credit scoring methodology to include on-time rent payments. By signing this petition, you are supporting landlords and fostering a fairer rental market.