This bill enacts the Life Leases Act, 2023. A life lease is a written tenancy agreement that involves payment of an entrance fee for a rental unit. The person who is first entitled to occupy the rental unit is granted right to occupancy for life or for a fixed term of not less than 50 years.

The bill authorizes certain payments in respect of life leases and requires the disclosure of information related to life leases. The information that a landlord is required to disclose to a tenant includes the estimated entrance fee; the projected completion date; information regarding governance and management of the residential complex; the estimated amount of other fees, including monthly occupancy fees; and the estimated refund that a tenant will receive upon termination of the lease.

Prescribed landlords are required to maintain a reserve fund to pay for any unforeseen major repairs to or replacement of assets of the complex. The landlord is also required to maintain insurance policies in accordance with regulations.

The bill includes rules relating to tenants and board meetings, including requirements in respect of notice and timing.

The landlord is required to appoint a trustee to receive and administer a tenant’s entrance fee in accordance with specified requirements.

My question is to the member from Orléans.

He was referring to non-profit, and I know on this side of the House and in the middle over there we support our non-profit sector. Habitat for Humanity does great work in building affordable rentals and houses for people in need in Ontario. Obviously, in Bill 23, we removed development charges from non-profit housing, but unfortunately, the members opposite voted against that.

My hope is that they will choose to support this bill, which freezes 74 provincial fees related to building permits and other fees to get purpose-built rentals built.

Again, for the record, we are at the highest number of purpose-built rentals in the province of Ontario—the highest number, ever, building right now.

So will the member opposite support these cost-cutting measures in our bill?