Questions about rent reductions, the rent freeze act, and COVID.
Rent control in Ontario refers to a system of rent regulation in Ontario, Canada which limits the amount by which the rent paid by tenants for rental accommodation can increase.
The Ford government says that it will bring forward rent control legislation so that the “vast majority” of tenants do not face increases in 2021. Under existing legislation rent increases on units that had not been previously occupied prior to November, 2018 are capped, roughly at the rate of inflation.
You can read more here: https://www.ontario.ca/page/residential-rent-increases
We have had a number of tenants approach us about rent reductions in the current climate. Please reach out to us to discuss this further if you think you may be impacted.