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CREW poll: Does rent control in Toronto need an overhaul?

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Justin da Rosa | 10 Apr 2017, 08:15 AM Agree 0
There have been suggestions that rent control needs to be put in place for properties built after 1991: Do you agree?
  • Shah | 10 Apr 2017, 12:43 PM Agree 0
    After reading different articles on Toronto home prices I have drawn a conclusion no one have done the root cause analysis all I hear is bubble for the last several years, pointing fingers on each other, it's high time the Government should intervene by arranging meetings with Builders, Banks and Real Estate Associations
  • AC | 11 Apr 2017, 09:07 AM Agree 0
    So Kathleen Wayne is getting involved in rent control issues because 'some landlords are raising the rents to double'. Why isn't she focusing on real matters? She wasn't very successful with anything else during her term and now wants to be a HERO!!? She appears to be pulling a 'Trump' by drawing attention from real matters to stupidity like this. The rents are obviously too low for these landlords because there's no way one would increase the rents to an amount that would be unreasonable or unsustainable. The units would simply NOT rent and tenants would go elsewhere. Would a landlord risk pricing his /her units out of the market and risk them sitting vacant!?? Has anyone thought of this?? If one takes advantage of this and increases the rent, it's usually to bring a unit to market rent. By increasing it too high and being above your competitors, means your unit will sit empty (yes, we have competition you see). Lose a month or two in rent because you are asking too much means you won't be making it back anytime soon. If she gets the policy makers to start imposing rent controls , we will have huge issues of which will cause the domino effect (listen to the experts for a change Ms. Wynn). Has she given serious thought to this? With today's market and prices, the numbers in rentals don't work as is. Doing this will further deepen the gap and it won't make sense for investors to buy (it already doesn't). She should listen to the experts rather than run with something she thinks will make her a superstar. Sounds like Kathleen Wynn's looking to leave her legacy with 'rent controls' as nothing else she's done has been exceptional or worth mentioning. It's like a dog with a bone, she's finally got something she thinks will make her a star and she's now running with it and won't let go. Please listen to the experts Ms. Wynn and don't destroy this incredible market. We are a wonderful, world class city and everyone wants to live and invest here. Finally we are on the world map. Is Ms. Wynn aware that Toronto was voted best overall in all categories for most livable city in the liveability rankings; least expensive in worldwide cost of living; best for business in the business environment rankings; most democratic in the democracy index; and most secure based on the global food security index according to the Economist. We ranked best overall in the world!!! Does she also know that Toronto ranked 4th out of 30 global cities in PWC's 6th annual Cities of Opportunities? Now shouldn't we ask ourselves why??
    • FR | 27 Apr 2017, 11:00 PM Agree 0
      I'm a female 2nd generation home builder and landlord of 2 new rental properties in Ontario. I have an excellent relationship with all my tenants, they enjoy living in their homes. Kathleen Wynne who's never taken out a permit in her life, or knows how complex renting can be, thinks that taking away rent control on newer properties will resolve the issue of shortage of rentals. At a critical time when interest rates are their lowest in Ontario and renewed confidence in building rentals, she destroys the desire and intent for builders and investors to put new housing on the market. In future there will be more inferior and more expensive housing for rent because of lack of competition, and our future generations will inherit more HARDSHIP just like the hydro bills we receive monthly. Thanks Kathleen, instead of capping me for no just cause, maybe it's time for Ontario to cap your future pension cheques, you obviously didn't EARN it while destroying Ontario's rental housing market.
  • CT | 11 Apr 2017, 12:35 PM Agree 0
    Maybe Wynne should focus on controlling Hydro prices instead of rent increase .. also maybe get back all the taxpayer money she wasted on her failed powerplant before she interferes in rent control
  • David | 21 Apr 2017, 01:56 AM Agree 0
    No rent control or any kind of control for real state is a back ward of economic theory. It will weaken quality, economic development and eventually lower grade and the growth.
  • LC | 22 Apr 2017, 11:26 PM Agree 0
    Why is Kathleen Wynne getting involved in rent control? Did she forget a part of the reason landlords have increased their rents is due to higher provincial property taxes, higher hydro expenses including water & sewer expenses. The Toronto market is hot, but that doesn't mean the rest of Ontario have owners doubling rents for greed. I'm for putting a cap on rental units built after 1991 at 10% to encourage small developers to continue to build quality affordable smaller buildings and townhouses that the large corporations will not get involved in. She obviously is not listening to the experts. and once again we as Ontario landlords and Ontario tenants will suffer due to her stupidity.
  • Jeremy | 05 May 2017, 04:45 PM Agree 0

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  • GK | 09 Jun 2017, 11:27 AM Agree 0
    Rent is well controlled by supply and demand. In the much publicized case where a reporter had her rent doubled, I truly believe that was an exception as apposed to the rule of what the rental market is doing out there. Of the numerous landlords which I have knowledge of, not one of them raised their rents to this extent. If we look at the rental figures these past 3 months the premise that rents doubled is not supported. (Maybe the landlord wanted her out for a different reason). When Wynn puts controls on hydro, taxes, and future mortgage rates, then and only then should she look at rent controls. If a Landlord isn't covering his costs and repairs, why should he create rental units. The majority of rental units aren't created by companies building entire rental buildings, they are created by individuals investing, buying and renting one unit at a time. Most Renters prefer renting in Condo Building due to the fact they have a higher standard of maintenance than entire rental buildings, mainly due to the fact, the management company has to answer to hundreds of owners rather than one owner who wants to maximize profits by not doing necessary repairs. Rental controls create fewer and lower quality rentals.
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