19:14:43 EDT Thu 31 Oct 2024
Enter Symbol
or Name
USA
CA



Dream Unlimited Corp (2)
Symbol DRM
Shares Issued 41,244,327
Close 2023-07-28 C$ 20.27
Market Cap C$ 836,022,508
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FP/CP say Dream's King St. tenants hold rent strike

2023-07-31 07:41 ET - In the News

The Financial Post reports in its Saturday, July 29, edition that several tenants at 33 King St. in Toronto's west end are among tenants at several buildings in the city who are on a rent strike to protest what they say is unfair treatment by their landlords. A Canadian Press dispatch to the Post reports that tenants in a nearby building -- at 22 John St. -- joined the rent strike this month. Dream Unlimited, which owns 33 King St., said it "inherited" a dispute between the striking tenants and the previous landlord when it bought the building in 2021. It said the dispute is over above-guideline increases (AGIS) for 2018, 2019 and 2021. Dream Unlimited chief responsible officer Michael Cooper said the company is willing to negotiate a "significant discount" and create an "extended payment" plan for tenants who need support. "We are accommodating and supporting our tenants as best we can as we resolve these AGIS," Mr. Cooper said, noting that about 12 per cent of tenants at 33 King St. are on a rental strike. Dream also owns 22 John St., where it said 15 per cent of tenants have not paid rent, but notes that the building is not subject to provincial rent guidelines because it was completed after 2018.

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