Residents of multiple buildings owned by Lankin Investments helmed by CEO Kyle Pulis gathered at the company’s headquarters in Vaughan on Tuesday to protest a rent increase of more than double the provincial cap.
The company, formerly known as Pulis Investments, has applied for an Above Guideline Increase (AGI) of 5.5 per cent, well above the 2.5 per cent provincial limit for rent controlled buildings.
Residents chanting “Kyle Pulis, stop the rent hike” rallied outside the firm’s office on the fifth floor of 6220 Highway 7 in Vaughan. Many carried signs that read “poor management doesn’t equal increased rent” and “above guideline rent increases exploit working people.”
Pulis did not address the tenants, which led to repeated calls of “where is Kyle?” from the group. In an attempt to speak with Pulis, some tenants tried to enter the office while security guards blocked them from doing so and an employee tried to hold the door closed from the inside. Tenants were able to briefly enter the office before slowly exiting the premises without being able to meet Pulis.
During the protest, two representatives from Drake Property Management, the company that manages the three buildings, came out to speak with tenants, but said they had no authority over the AGI issue.
A landlord can apply for an AGI when significant improvements are made to a unit or building in order to recoup costs. However residents of 1570 Lawrence West, 20 Elizabeth Street North and 38 Dixington Crescent tell CityNews their buildings are in disrepair and have not been upgraded to the standards they believe would justify an AGI.
“They say ‘we’re going to put in a new foyer. We’re going to fluff up this, that, and the other and then they say ‘now we’re giving you a 5.5 per cent increase.’ Our garage door has been broken for six months. It got fixed last week. It was shoddy work, the pin fell out. It’s not working again,” says Phyllis Lacrosse from 20 Elizabeth Street North.
“And [they] want 5.5 per cent — you ask me for what? I have no idea. If you came to my building and looked at it, you would say, why are you even paying the rent you’re paying?”
She feels the upgrades the company cites as reasons for the AGI, including new windows and balcony doors, only serve to make the building look attractive to new tenants and possible investors, In-unit repairs, she claims, are often ignored.
“We have people that cannot use their washroom, haven’t been able for two months because they won’t do the repairs. Our hot water is turned off at least every two weeks, if not more,” she says.
Helen Jackson from the same building says the broken garage door has led to cars being broken into, the elevators are frequently out of order and building maintenance is englected.
“The building, since they bought it, has gone downhill. They put new things in, but they don’t take care of them … they put in some carpet and some new lighting fixtures, but they don’t take care of what they put in. Nobody comes to clean, hardly ever,” she says.
Debbie Mohan from 1570 Lawrence West has similar complaints.
“The condition of the building has deteriorated a lot and it’s very difficult to get them to come and do any sort of repairs in every area — the inside, the outside. The place is very dirty. We can’t get maintenance — when we call, we hardly ever get through,” she says.
Apart from maintenance issues, tenants say the rent increase is simply unaffordable.
“In our building, there are many people who are disabled, many pensioners, people living there over 35 years, retired people. And with the economy and everything that’s going on, it’s too much,” says Mohan.
“We know if we don’t fight it now, next year they’ll do something else and it’ll be another 5.5 per cent. I can’t afford that. I’m a senior and I cannot afford it,” adds Lacrosse.
CityNews reached out to Lankin Investments for comment and received a response from Drake Property Management.
Addressing the protest, Residential Property Management Lead Asad Vorajee said “we respect the right to peaceful protest and the ability of individuals to express their views. We have also established multiple avenues for open, transparent, and meaningful conversation—and we strongly encourage those to be used.”
“However, today’s protest resulted in violence, physical injury and assault of our staff and security, which is unacceptable, put our staff at risk, and should never be tolerated.”
He added that nevertheless, they have and will continue to engage tenants in open dialogue.
“We are committed to maintaining safe, livable, and high-quality rental housing and have created multiple open and accessible channels for dialogue, including town halls, office hours, rental support, and direct responses to resident concerns. While only a small number of residents have contacted us about the Above Guideline Increases (AGIs) individually, our door remains open, and we continue to encourage meaningful conversations,” said Vorajee.
“Maintaining safe, high-quality housing requires ongoing investment in major capital expenditures like windows, roofs, and balconies—projects directly supported by AGIs. Under Ontario’s rent control system, the Landlord and Tenant Board (LTB) provides a structured process that allows landlords to recover a portion of these costs while protecting residents through strict review and approval. AGIs serve as a counterbalance within the Ontario rent control framework where tenants receive stable, predictable rents and landlords are able to recover a portion of necessary major capital costs.”
However, tenant advocate Cole Webber believes Lankin’s use of the AGI is aimed at getting rid of long-standing tenants who pay below market rent.
“Lankin has a business model based on turning over units, so they want to put pressure on tenants for them to move out,” he claims.
He says Lankin tried and failed to evict the tenants from 1570 Lawrence West for renovations in 2022 — their application was dismissed by the Landlord and Tenant Board (LTB) at a hearing in 2023.
He adds that Tenants at 20 Elizabeth Street North and 38 Dixington Crescent allegedly received buyout offers from the company after they bought the buildings in 2022 and 2023 respectively.
“[Lankin Investments] attracts new investment into their buildings by telling investors that they can turn over units and increase rents. So they use a variety of tactics, including above guideline rent increases to push those [existing] tenants out of their homes,” he says.
Webber adds that as per Lankin’s website, investors are offered a return of 14 to 18 per cent.
“I think the profit goes to the investors … that’s where the extra money that they want to charge goes to, not to the maintenance of the building or for the tenants at all,” says Mohan.
The AGI has not yet been approved by the LTB. When a landlord issues an AGI, tenants have the option to begin paying the increase right away or await the LTB’s ruling. If the AGI is approved, tenants are expected to pay the increase retroactively and if denied, landlords must repay tenants any increased amount they paid.
Webber says tenants do not want the matter to proceed at all and want the application withdrawn.
“Tenants are going to continue to organize at their buildings and increase the pressure on Lankin Investments and Kyle Pulis to withdraw these rent increases. It is within his power to withdraw the rent increases today and that’s what tenants want,” he says.
“We will keep fighting. We will not pay,” adds Jackson.
