Very interesting news about rent increases, by Harry Fine President of Landlord Solutions.
Some really disturbing and frightening news today.
Tory MPP Norm Sterling, defeated in a nomination battle for the upcoming provincial election, likely now has great bitterness towards the PC party, and has introduced this private member’s bill designed to amend the Residential Tenancies Act, 2006, and remove (but not retroactively) the exemption from the rules related to rent increases for rental units that were not occupied for residential purposes before November 1, 1991.
This exemption was utilized by a number of small landlords in newer buildings, condos usually, to keep up with the cost of increasing condo fees, special assessments etc. It also encouraged developers to build.
This issue has been sort of kept in the dark by the landlord side, but recently hit the papers with a story in one of the papers.
Anyone with input in Ron Sterling’s office? I’ve attached a copy of the bill.