Managing your rental
A dated, sourced timeline of SIREG and Simple Investor: suspended payments, new management, the licence suspension and the insolvency filings.
By the Tenant.ca teamUpdated 4 min read
Each entry gives a date, what was reported and who reported it, with a link to the source. We add entries when a regulator, a court or an established news outlet publishes something new, and we do not add anything we cannot source.
This page is general information, not legal advice. It reflects public sources checked on October 3, 2026.
The Globe and Mail reports that over the past decade the Simple Investor Real Estate Group, or SIREG, bought existing multifamily rental buildings across Ontario, converted them into condominiums and sold the units to investors. It also provided property management, including collecting rent and remitting it to owners.
Connect CRE reports that the program was marketed on the basis that owners receive their monthly rent even when a unit is vacant, and that The Simple Investor says it has more than 1,800 investors. CBC News puts the portfolio at about 1,800 condominium units in 21 buildings, in communities that include London, Sarnia, Kitchener, Welland and North Bay.
September 18. The Globe and Mail obtained an email sent to SIREG stakeholders that day warning that future rent or dividend payments were being suspended because of liquidity challenges.
September 21. CTV News reported that investors had been told the company was experiencing market and liquidity challenges that affected its ability to make timely rental payments.
September 23. According to an email to investors obtained by The Globe and Mail, SIREG appointed AlixPartners Restructuring Inc. as its insolvency trustee, with Adam Zalev of Reflect Advisors acting as chief restructuring officer. The same email said the company's founder had stepped away from management for health reasons.
The Condominium Management Regulatory Authority of Ontario (CMRAO) records that on September 29, 2026, SIREG Management Inc.'s condominium management provider licence was ordered immediately suspended under section 43 of the Condominium Management Services Act, 2015. The same day the registrar issued a proposal to revoke the licence. A proposal can be appealed to the Licence Appeal Tribunal, so revocation is not final.
On the same date Connect CRE reported that the financial strain had begun to show in building operations, citing a Peterborough Examiner report of missed garbage collection at a Peterborough townhouse complex the company owns.
CBC News reported that the CMRAO had received five complaints and had commenced investigations. It also reported that some unit owners had begun approaching tenants directly to collect rent at buildings on Kipps Lane in London, that tenants there had not known their units were investor-owned, and that owners were organizing online.
The Globe and Mail reported that at least 14 companies associated with SIREG had made insolvency filings, most of them companies that own individual buildings, according to Office of the Superintendent of Bankruptcy records.
It also reported that insolvency notices sent to condominium owners warn that, under the Bankruptcy and Insolvency Act, they cannot break their property-management agreement with SIREG and begin collecting rent on their own, though they can apply to a court to be released from it. The Act's restriction is on ending an agreement only because of the insolvency or the filing; other grounds in an owner's agreement are a separate question. The Ontario Securities Commission declined to tell the newspaper whether it had received complaints or opened an investigation.
No source we have found yet establishes the kind and status of each company's insolvency proceeding, whether owners will recover rent that was not paid, who will manage each building, or how the licence proposal will end. We will add each of those when a primary source or an established outlet reports it.
If you own a unit, your own documents matter more than any timeline: the agreement you signed, the notices the trustee sent you and your condominium corporation's records.
