Real Estate

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

  • Last Updated:
  • Sep 18th, 2020 8:47 pm
Newbie
Jul 23, 2020
83 posts
58 upvotes
JayLove06 wrote: 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?
True, it goes both ways.

Although if anything these tighter controls would just force all the landlords who wanted an easy buck to leave the business.
Member
Sep 11, 2017
267 posts
174 upvotes
Does this rent freeze bill include units that currently are not subject to the cap increase %? These would be units that closed post Nov 2018 I believe...
Deal Guru
Feb 29, 2008
12265 posts
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ricodeals wrote: True, it goes both ways.

Although if anything these tighter controls would just force all the landlords who wanted an easy buck to leave the business.
Yea, disagree on that front. Less mom and pop landlords means less product which results in higher rents. Do tenants really want government and corporations as their landlords? Good luck pulling the stunts they pull on small time landlords.
Last edited by JayLove06 on Sep 2nd, 2020 6:26 pm, edited 1 time in total.
Jr. Member
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May 9, 2019
118 posts
139 upvotes
GTA
DoFo trying to snatch some votes from struggling renters.

Just another reason why I would never want to be a landlord in this province.
Some say they're sick of my crap.
Deal Guru
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Jan 10, 2008
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Last time I checked mortgage rates are down , now future taxes , that’s a whole different ballgame , but this real estate bubble will pop in a few years once we can’t pay for all the freebies this pandemic will have cost and rates go up globally. You’ll end up with people not able to pay for mortgages / rent

The worst is yet to come .
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Sep 8, 2007
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Way Out of GTA
Jojo_Madman wrote: 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% ...
Hopefully you thanked them for coming out and then promptly lost their number.
"It is in times of great fear or greed that the most opportunity exists."
[OP]
Deal Addict
Jan 28, 2007
2213 posts
1561 upvotes
SW Ontario
cartfan123 wrote: Hopefully you thanked them for coming out and then promptly lost their number.
Simply stated that given the number of interested parties, lease rate was as posted ... take it or leave it basically.
I'd rather be outdoors camping, kayaking, and mountain biking ...
Deal Addict
Nov 23, 2003
1855 posts
389 upvotes
FedExpress wrote: Does this rent freeze bill include units that currently are not subject to the cap increase %? These would be units that closed post Nov 2018 I believe...
No I don’t think so. They don’t fall under rent control.
Deal Addict
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Jan 8, 2009
3846 posts
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Ontario
Government intervention in private enterprise. How about forcing the price of a beer to be $1 as promised?

If the government wants affordable housing built it and fund it using taxes from mega rich tax-avoiding companies like Amazon that are cashing in on the pandemic.
"Never wrestle with a pig. You'll both get dirty, and the pig likes it"
Newbie
May 7, 2019
21 posts
24 upvotes
I'm actually thinking inflation is some crazy high percentage - who knows what maybe 4-5%?

they probably wantd an easy way to prevent rents jumping by that amount. and this way they can win over all the tenants.
Deal Fanatic
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Jan 6, 2011
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GTA
Jojo_Madman wrote: 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.
The market will deal with rent control/perminant rent freeze given chronic housing shortage, i.e. key money...etc.

However, lots of much worse measures can be implemented, i.e. no evictions for non-payment.

The better way is to offer incentives such as defferable tax credits for landlords taking on extra losses or offering below market rent to low income people.

Either way, this freeze is likely ushering another round of rent and price surge in near future like we've seen in 2017,
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Oct 26, 2003
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Winnipeg
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.
When rates go down the price goes up, as people usually calculate in terms of monthly payments which is a matter of cash flow. Not all utilities are separately billed to tenant, depends on the setup, of course even if landlord pays for utilities, the cost just gets rolled into the rent anyway.
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Oct 26, 2003
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JayLove06 wrote: Yea, disagree on that front. Less mom and pop landlords means less product which results in higher rents. Do tenants really want government and corporations as their landlords? Good luck pulling the stunts they pull on small time landlords.
Government do run some apartment buildings, those are called public housing, they often appear on the news of been cockroach infested place with no one looking after maintenance.

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