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Crusader Launches Tax Credit Campaign to Bailout Buyers of Broken Condos

Nov 1, 2017 10:30 AM

Crunching Numbers on Kitec Crisis Reveals a Half Million Canadians in Hot Water

Toronto, ON, November 1, 2017 – New research shows that there is a looming financial crisis behind the walls of over 500,000 households across Canada. The Canadian Kitec plumbing crisis demands costly repairs or threatens to leave thousands of dollars of damage in its wake. Although Kitec MUST be reported on condo status certificates and inspections, few Canadians seem aware of its implications until they are hit with massive repair bills of up to $10k.

Kitec crisis by the numbers:

Nationally:

2,067,536* - Estimate of residential dwellings built in Canada between 1996-2007

516,884 - Estimate of properties potentially affected by Kitec crisis

(¼ of total properties built during this period.)

Toronto only:

132,085** - Estimate of residential dwellings built in the City of Toronto between 1996-2007

33,021** - Estimate of properties potentially affected by Kitec crisis

(¼ of total properties built during this period.)

Average cost of Kitec repairs (in condo) $3k-$10k

* According to 2016 census profile (Statistics Canada)

** According to a 2015 City of Toronto Study quoting Statistics Canada

“I don’t think anyone has really sat down to crunch the numbers on how potentially widespread an issue the Kitec crisis could be for Canadians,” said Toronto Real Estate Broker, Author, and University Instructor, Claude Boiron, of Royal LePage Terrequity Realty - Boiron Group. “With over half a million Canadians potentially affected, I think it’s time for the government to step in and make this right with a tax credit for those forced to pay for repairs.”

Boiron adds that Kitec was approved for use, and up to provincial and federal code at the time it was installed in all the affected properties. In fact, it was a wildly popular plumbing solution for over a decade due to its flexibility and ease of installation for contractors.

“Approving Kitec for widespread use was a failure of both the federal and provincial government to protect condo and homeowners,” added Boiron. “We have warranties for construction deficiencies on new buildings, why can’t the government step in and make this right for the thousands of Canadians hit with massive and unexpected repair bills?”

A call to action

Boiron pledges to bring forward a petition and a case for a Kitec tax credit to his Local MP, Rob Oliphant and MPP/Ontario Premier - Kathleen Wynne.

For the next 90 days, Claude and his team will be collecting support for the campaign through online signatures and emails from concerned Canadians through the Kitec Crusader website at www.kiteccrusader.ca

The Kitec Crusader

As a Toronto Realtor for 17 years, Boiron is giving back to the city by becoming the ‘Kitec Crusader.’ He is pledging to personally pay for the costly repairs up to the projected high-end of $10,000 from his own commissions. The bailout offer will be open to any condo (or other property) owner who buys and sells a property through the Boiron Group.