Real Estate

Ontario to freeze rent for some families, promising new bill this fall

  • Last Updated:
  • Sep 18th, 2020 8:47 pm
[OP]
Deal Addict
Jan 28, 2007
2213 posts
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SW Ontario

Ontario to freeze rent for some families, promising new bill this fall

https://www.cbc.ca/news/canada/toronto/ ... -1.5704411

How about also freezing property tax increases, mortgage rates, and utility services for rentals as well then ...
I'd rather be outdoors camping, kayaking, and mountain biking ...
32 replies
Deal Guru
Feb 29, 2008
12265 posts
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Tell tenants not to pay rent, then tell landlords you’re freezing rent Face With Tears Of Joy

For tenants who complain when landlords raise rent yearly, this is exactly why.
Deal Addict
Jun 18, 2018
1279 posts
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Toronto
Would only work if they freezed the expenses.. main reason why landlords hike is because property tax, expenses, etc. usually rise yearly too.
Member
Sep 11, 2017
267 posts
174 upvotes
Electrah wrote: Would only work if they freezed the expenses.. main reason why landlords hike is because property tax, expenses, etc. usually rise yearly too.
They (the govt) won’t freeze expenses. Landlords will continue to be perceived as the economical over achievers who need to do more to help society even the playing field in the widening gap divide in classes. Is it fair? Absolutely not. This is the tip of iceberg of the growing class warfare that we will see over next generation
Deal Addict
Jan 9, 2010
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And this is why Canada will always be mediocre economically and irrelevant globally without a voice.
Deal Addict
Nov 24, 2013
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Next thing will be if you've rented a place for a year, you now own it.
Deal Addict
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Nov 5, 2018
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Maybe renters learned budgeting and how to save they could afford their own place. Enough with the avocado toast, millennials!!!
I do not need approval, I do not need friends. I do what I want.
[OP]
Deal Addict
Jan 28, 2007
2213 posts
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SW Ontario
Complete nonsense in my opinion, as it would have been just as easy to say that the rent increase for 2021 was say 0.5%. At least it would help both sides to some extent.
Glad I decided to issue the 2020 rent increases for my tenants for later this fall.
I'd rather be outdoors camping, kayaking, and mountain biking ...
Deal Fanatic
Feb 22, 2011
7257 posts
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Toronto
The headline sounds like it's meaningful but this is really as little as you could do during a pandemic with mass unemployment. This is stopping a one time increase of like 1.5%. There could be much more detrimental changes to landlords like extending the eviction ban.

I also remember they are starting a new process to take evictions out of LTB so they will be faster.
Deal Guru
Feb 29, 2008
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mazerbeaner wrote: The headline sounds like it's meaningful but this is really as little as you could do during a pandemic with mass unemployment. This is stopping a one time increase of like 1.5%. There could be much more detrimental changes to landlords like extending the eviction ban.

I also remember they are starting a new process to take evictions out of LTB so they will be faster.
Don’t you think without rent control landlord would have the flexibility to drop rents to low values to help tenants out then in a year or so when rents move back up, landlord raises rent to the going rate? rent controls removed flexibility for landlords and hence just made rents higher. Look at the newly completed condos that aren’t under rent crontrols, it isn’t like they’re asking for extreme rents. In many cases the rents are really low and there’s a reason for that.

Anyways 1.5. % is negligible, but adds up if the landlord was nice and didn’t raise the rent the year before. I mean who thinks inflation is 1.5%? Will be interesting to see them try to keep the rate low as inflation runs wild the next few years.
Last edited by JayLove06 on Aug 31st, 2020 2:00 pm, edited 1 time in total.
[OP]
Deal Addict
Jan 28, 2007
2213 posts
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SW Ontario
Agree, in the big picture a 1.5% missed isn't a big deal if they don't screw with anything else on the next year.
Personally I don't like the idea or concept of "rent freeze" being passed, as then it becomes very easy for some narrative groups to push for it to be extended further ... yearly increases, no matter how small, helps instill that the tenant doesn't "own" the place ... as well as help recoup other losses since "damage deposits" aren't allowed.
I'd rather be outdoors camping, kayaking, and mountain biking ...
Newbie
Jul 23, 2020
83 posts
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Jojo_Madman wrote: https://www.cbc.ca/news/canada/toronto/ ... -1.5704411

How about also freezing property tax increases, mortgage rates, and utility services for rentals as well then ...
Haven't mortgage rates dropped to record lows? Aren't utilities always paid for by tenant anyways?

Which landlord decreases rent for tenant when their expense also drop? If you can't survive without the increase of 3% maybe you should reevaluate the business you are in.
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Sep 8, 2007
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Methinks luckyinfil is back in action.....
"It is in times of great fear or greed that the most opportunity exists."
Deal Guru
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ricodeals wrote: Haven't mortgage rates dropped to record lows? Aren't utilities always paid for by tenant anyways?

Which landlord decreases rent for tenant when their expense also drop? If you can't survive without the increase of 3% maybe you should reevaluate the business you are in.
Simple counter is if you can’t survive a meager increase then time to re-evaluate whether renting is for you or maybe time to find a more affordable option.

So what we see here is strict rent controls and now even increasing rent by such a small amount is frowned upon. People have to see where things are headed right? I’m not the only one?
[OP]
Deal Addict
Jan 28, 2007
2213 posts
1561 upvotes
SW Ontario
JayLove06 wrote: So what we see here is strict rent controls and now even increasing rent by such a small amount is frowned upon. People have to see where things are headed right? I’m not the only one?
Precisely my point as I see this heading down a very slippery path ... hence my objection to an outright rent freeze. This will only fuel the narrative to extend it further.

I've already seen a potential tenant object to my asking lease rate on a posting, as they seemed to know what the previous tenant had been paying. Next thing will be that landlords can't raise rents or are restricted to the amount when a tenant leaves ...

I have no problem surviving financially a year without the 1.5% ...
I'd rather be outdoors camping, kayaking, and mountain biking ...

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