Managing your rental
On October 7, 2026 SIREG and its trustee told the Ontario court the group will wind down, not be sold, and will ask to assign each tenancy to its owner.
By the Tenant.ca teamUpdated 6 min read
On October 7, 2026 the companies in SIREG's insolvency proceedings and their proposal trustee, AlixPartners Restructuring Inc., filed a joint aide memoire in the Ontario Superior Court of Justice (Commercial List), court file BK-26-03429084-0032. According to the filing, 18 companies have filed notices of intention to make a proposal, including SIREG Management Inc., SIREG Holdings Inc. and The Simple Investor Real Estate Group Inc. Cassels acts for the companies and Osler for the trustee.
The filing was made for a case conference that a secured lender, Firm Capital Mortgage Fund Inc., started over one of the properties. The companies and the trustee used it to ask the court for an urgent hearing on October 14, 15 or 16 to approve what they call critical transition steps.
This page is general information, not legal advice. It reflects public sources checked on October 13, 2026, and the situation is changing: the court had not ruled when it was written.
According to the filing, the group retained Reflect Advisors before the proceedings began, with Adam Zalev as chief restructuring officer, to find out whether a restructuring or a sale was possible. The filing states that it has become clear neither is viable and that the group's operations will be wound down, in an orderly way because so many tenants and unit owners are affected.
The filing describes two kinds of property that SIREG Management manages: about 900 units in 10 apartment complexes and converted units owned within the group, and about 2,200 units in 43 condominium buildings owned by individual investors. It also says the companies will, optimistically, have no money left to operate by the last week of October 2026, and that their mortgage lenders will not allow new financing on the mortgaged properties.
The filing says the trustee intends to file a report and ask the court for orders allowing three things:
According to the filing, Firm Capital asserts rights to about $600,000 of October rents, and RBC appears to be asserting rights of set-off against money in SIREG Management's bank accounts. The filing says these competing claims are on the same limited pool of cash, and that if too much of it is taken before an orderly transition, there may not be enough left for life-safety work, emergency repairs and other costs of protecting residents and the buildings.
The filing also says the condominium boards of all 43 buildings resigned together on or about September 17, 2026, and that with SIREG Management's licence suspended the corporations have neither a board nor a manager. The CMRAO's records show the licence was suspended on September 29.
If the court approves the assignment the filing describes, SIREG Management's interest in the tenancy of your unit would pass to you. Under the Residential Tenancies Act a "landlord" includes the assigns and successors of the person who rented the unit, so the tenant's tenancy would continue with you as their landlord. The lease terms and the rent would not change because the landlord did.
Becoming the landlord comes with duties: keeping the unit in good repair, giving proper notice before entering, paying interest on any rent deposit and giving receipts on request. What happens to your own agreement with SIREG, and to the rent and deposits SIREG has collected, is for the court and the trustee to settle, so have an Ontario lawyer read the order with your agreement once it is made.
When this page was written the court had not ruled. The filing does not say when an assignment would take effect, how tenants would be told, what would happen to rent collected for October or to rent deposits SIREG holds, or how condo fees owed to each corporation would be handled. We will add the court's decision and the trustee's report when they are public.
None of these steps commits you to anything, and each makes a handover faster if the court approves one:
If the court approves the transfer, the day-to-day work of a landlord lands on you at once: your tenant needs to know who to pay and who to call, and repairs do not wait for paperwork. Tenant.ca can take that on from the day the tenancy is yours.
With Tenant.ca you stay the landlord and we manage the unit under a management agreement: we tell your tenant in writing who to contact and how to pay, collect the rent, coordinate repairs you approve and report to you. The fee is $98 plus HST per unit per month, the first 60 days of the agreement are a trial period, and your owner portal shows each rent payment for each unit.
We take on SIREG-managed units in the GTA and in Brantford, Chatham, Hamilton, Kitchener, Listowel, London (1265 and 1275 Bentley Drive only), Sarnia, St. Catharines, Tillsonburg, Waterloo, Welland, Windsor and Woodstock. Send us the building address and unit number and we will confirm coverage. There is no rush and no obligation, and you can call 1-866-TENANT-0 (836-2680) if you would rather talk it through.
