Canadian Realestate Magazine forum is the place for positive industry interaction and welcomes your professional and informed opinion.

4.6% rent hike application has tenants up in arms

Notify me of new replies via email
Canadian Realestate Magazine | 26 Mar 2015, 08:19 AM Agree 0
Even landlords are scratching their heads as a big Toronto player seeks to raise rents by 8 per cent over two years – despite tenant protests around deferred maintenance and security.
  • Question? | 26 Mar 2015, 12:18 PM Agree 0
    I was under the impression that landlords can raise the rents by any amount desired if the rental unit was built on or after November 1, 1991. This is discussed in the Landlord and Tenant Board's Form N2 which states the following:

    Use Form N2 if the rental unit is exempt from the rules limiting rent increases
    under the Residential Tenancies Act. This would include non-profit and other
    social housing rental units, including care home units that are exempt from the
    rules limiting rent increases. It would also include new rental units in residential
    complexes that were first occupied on or after November 1, 1991, which are also
    exempt from the rules limiting rent increases.

    I am misreading the above? Please help me understand. Please see the below link to the LTB document:
Post a reply