Two sisters were shocked when a Toronto landlord raised their rent by $7,000 per month.
The landlord had told them he wanted to raise the rent to $3,500 and when they complained he decided to raise it to $9,500.
“We know that our building is not rent controlled and this was something we were always worried about happening and there is no way we can afford $9,500 per month," Yumna Farooq said.
It shows that "no rent control" basically means "your landlord can throw you out at any time without notice" by raising rent to a ludicrous amount. It completely undermines all other tenant protections. Even conservatives should be supporting at least modest rent controls to prevent cases like this.
Same thing is happening to me right now (UK). LL inherited a portfolio of mortgage-free properties a few years back, immediately jacked the rent up on them all. I tried to haggle what imo was an egregious rent increase (notified middle of the year after asking for a minor repair), we agreed on a price then he served me notice to quit; via the letting agent, not a peep or thanks from the LL after I've put ~£90000 into his familys' accounts over 13 yrs.
Of course, I can pay someone elses mortgage, but when I apply to a bank for one myself, I can't afford it.
Here in Norway ut is illegal to raise rent more than once a year and maximum by the current consumer price index. If the rent isn't raised a year you don't get to raise for that years CPI.
It doesn't really help the case that they show a picture a sky line dream apartment, but still that price is ridiculous and obviously there to drive them out.
Does that mean the landlord has to charge the next tennant that rate, or was that a special rate just for them? Can they charge different rents fir different people based on whether they like the tennant?
Sounds like they're living in a high demand luxury apartment with a great view from the looks of it. Landlord just told em they fucked around and are going to find out now. The price is clearly because they don't want to deal with them anymore.
They must have really pissed off the landlord. It doesn't say what they asked for in the lease agreement changes... Or what they said to him when they "complained" when he raised the rent initially by a smaller amount.
Still ridiculous that it's legal to raise rent by that much, but oof, if you're in one of those buildings, be nice to your landlord.
Edit: i think people are taking what I said the wrong way - I'm saying with the way things are, if landlords can get away with this, they hold all the power!
Edit2: I guess I'm the bad guy here, but I recommend you focus your rage on Ford who set this shit up in the first place.
Exactly the same problem in Québec, buildings 5 years or less have no law nor rent control, so it's free for all for the landlord to raise a rent from 1500$ to 4000$ as he wants.
I wonder if there are information or anonymised statistics regarding the portion of elected representatives, senators and members of the judiciary from municipal, provincial and federal bodies/institutions that own more than a property (principal residence).
How many properties?
What type of properties (from residential single family to high rise residential appartments/condominium, from empty/rundown/abandoned farmhouses/buildings to unused farm/land, etc…)
What purpose do they have for those properties?
Do those properties generate some kind of revenue? If so, how much? How is the revenue generated?
While thinking about it, how much of all properties in Canada are tied up behind a corporate veil by companies/fondations/trusts and various legal entities? Are there statistics on that?
There are too many unknowns and legal protections behind those unknown to be able to make a clear picture of the housing crisis.
I don't want the scapegoat excuse of too much RED TAPE to build new housing or that IT'S THE IMMIGRANTS and the FOREIGN WORKERS or FOREIGN INVESTORS/SPECULATORS took all our housing. That's too easy of a excuse to avoid the real and difficult work of understanding this whole mess.
I want real data, not proxy data. Full information on every transfer of property; from whom to whom, by which financial institution, for exactly how much, timespan elapsed between transfer of ownership, who is the mortgage holder if a loan is involved, renovation details if there has been any, every inspection report and details should always be public and attached to the property for the life of the property as a historical snapshot of the property, etc…
It's not that hard to implement these data gathering services but there are always deeply vested interests that would do everything in their power to discourage such endeavors and make up any excuse to avoid providing it.
Anyways, sorry this became a long rambling rant on my part.
Damn I didn't realise the Ford government weakened it to 2018 and before. Reminds me of a lot of US states, although they have a cutoff in the fucking 70s sometimes
I've always thought the hard "full rent control no hikes above inflation" "no rent control do whatever" dichotomy was stupid.
Why not compromise? Like 5% above inflation (or $50, whichever is higher) on all properties, regardless of how old or new they are. Allows a landlord to adapt to a shifting market, and gives a renter plenty of time to adapt and adjust as a landlord is changing rent yearly.
Then get rid of all the silly "year constructed" exceptions.
Assuming that's a photo of the apartment, that shit would be like 15k a month in NY. Not that any of it's right, just, or moral, but they definitely had it better than most to be paying that little for what many would consider quite a luxury apartment.
I kind of don't understand everyone's hate on landlords. My landlord increased my rent from $450 to $640 this year, but that's market rate and I'd have to pay the same or more if I tried to find another one, so I'm not even mad. When COVID hit a couple years ago and immigration stopped happening he dropped my rental from $600 to $400 so it works the other way as well.
It is just supply and demand and I don't see how it is any different to any other market.
That's a shitty solution lol. But yeah, you are right. It is an option. Move away from your home and everyone you love because your home is too expensive for normal people.
Banning foreign investment into Canadian real estate might have stopped this situation, but what do I know?