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Ontario’s New Rental Housing Policy: A Step in the Right Direction
Ontario Government Announces New Rental Housing Policy On Thursday morning, Doug Ford’s Provincial Conservative Government released its Fall Outlook. In that report, it announces that all new rental units, or those that are currently unoccupied as of November 16, 2018, will be exempt from the rent control rules that were implemented in April of 2017. This announcement comes after the average rental rate in the City of Toronto grew 12.1% since last April. That’s a whopping $2,379 a month! What does this mean? Conversely, all existing buildings and tenants will still be covered by the 2017 Rent Control rules under…
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