FairRent Ontario Campaign
There’s a gaping rent control loophole in Ontario that is harming renters, pushing them into debt and poverty. That loophole is the 2018 exemption to new builds. Most rental units in Ontario are protected by a form of rent control. Landlords can only charge up to 2.5% more in rent each year. This works well to keep rents manageable and in pace with incomes.
However, if you’re a renter who is renting a unit first occupied after November 15th, 2018, you’re out of luck. Those landlords can charge whatever amount they want in monthly rent each year. Some landlords will charge hundreds of dollars more per month from one year to the next. Would homeowners be able to afford their mortgages jumping that much each year, every year? Probably not. So why does the province think that’s okay for renters?
The 2018 loophole also means new rental units coming into the market aren’t protected by rent control. This is a little bit like tossing gasoline onto a raging fire. It makes the housing crisis exponentially worse. What’s the point of building new rental units if nobody can afford to rent them?
That’s why the province needs to restore full rent control. Get rid of the 2018 exemption. It’s not working.
Learn more at FairRentOntario.ca