Real Estate

Ontario rent increase for 2022 1.2%

  • Last Updated:
  • Jan 7th, 2022 4:23 pm
170 replies
Deal Guru
Feb 22, 2011
11491 posts
14744 upvotes
Toronto
It's an election year, has to play nice.
Member
Apr 20, 2016
249 posts
234 upvotes
rb wrote: CTV News Toronto: Ontario raises maximum allowable rent increase as rent freezes end.
https://toronto.ctvnews.ca/ontario-rais ... -1.5725258

Pretty low consideing inflation is 4%
Pretty ridiculous, plus rent freeze in 2020....so basically 1.2% over 2 years (unless your unit was built after Nov. 2018, then you can raise it by more).
Deal Addict
Jul 30, 2015
3498 posts
2669 upvotes
Toronto, ON
What is the difference between Ford and the Liberal Party?
Sr. Member
Feb 7, 2018
923 posts
1478 upvotes
canoek wrote: What is the difference between Ford and the Liberal Party?
Ford is populist - so will follow anything that seems popular. Right now the popular view amongst many small minded individuals is that landlords are bad people so let’s screw them over.

Honestly Ford or Del Duca is our best option moving forward. NDP want to limit rent increases between tenancies in addition to yearly rent increase limits. Not even NYC has that level of rent control BS.
Sr. Member
Dec 3, 2013
503 posts
705 upvotes
Somewhere over the r…
I've never understood how the rent increases are calculated. It makes zero sense.

I can raise rents by 1.2% after not being allowed to raise them at all last year. Inflation is 4%. Meanwhile the city raises it's middle finger at me and says pfft.... 1.2%??? Hell no. Your property taxes are increasing by more than 3% this year. All my tenants already have their notices sent to them.

Only saving grace is all my properties were purchased anywhere from 12-25 years ago. 1.2% or 5% wouldn't make a diff to me really but for a lot of landlords it would.
Deal Expert
Feb 29, 2008
17333 posts
14729 upvotes
Tarrana & The Ri…
wiab89 wrote: Ford is populist - so will follow anything that seems popular. Right now the popular view amongst many small minded individuals is that landlords are bad people so let’s screw them over.

Honestly Ford or Del Duca is our best option moving forward. NDP want to limit rent increases between tenancies in addition to yearly rent increase limits. Not even NYC has that level of rent control BS.
They're all garbage. It's really the Libs that got the ball rolling on rent control and other predatory rental laws. We have the worst anti-landlord laws on the planet.
Deal Addict
Jan 26, 2016
2138 posts
2141 upvotes
Toronto, ON
Worriedone wrote: 1.2% or 5% wouldn't make a diff to me really but for a lot of landlords it would.
you answered your own question... seems gov't is in the right as most landlords already doing fine with property value increases. If they are reliant on the paltry increase rate they shouldn't be in the business in the first place.
Deal Fanatic
User avatar
Dec 4, 2009
6500 posts
2632 upvotes
I love how CP24 reports that "rent hikes" are coming. Hikes, 1.2%?! Lol!
"I'm a bit upset. I've been grab by the back without any alert and lubrification"
Lucky
Deal Addict
User avatar
Apr 12, 2013
2814 posts
1814 upvotes
Moon
Dont buy anything built before Nov 15,2018 then you dont play by these rules...
Koodo, Public Mobile, Lucky Mobile Customer
Deal Addict
May 12, 2014
3211 posts
3120 upvotes
Montreal
I always read that owners can raise more if they get the agreement of the LTB. But is that necessary if the tenant agrees?

In other words: if a tenant agrees to 2%, can he go to the LTB in 6 months and retroactively get the rent reduced? (In the same maner an illegal clause could be made void)
Member
Apr 30, 2019
251 posts
299 upvotes
CP24 = Constant Panic 24
Toukolou wrote: I love how CP24 reports that "rent hikes" are coming. Hikes, 1.2%?! Lol!
Deal Addict
May 23, 2006
1427 posts
444 upvotes
Vancouver
As a landlord, i don't like rent control.

But at the same time, i don't feel it's completely unfair considering the following:

1. Lots of business industries are regulated by the government. Food Delivery fee has a cap, COVID capacity restriction, etc.
2. Most landlords make most of their money from capital appreciation rather than from rent
3. it's important for renters to afford home so that they don't end up sleeping on the street. Lots of homeless ppl have a big impact to overall society and economy.

To adjust to rent increase control, i minimize my expnse by not making any improvements to my rental property while my tenants are occupying the properties. I hope all tenants don't abuse the system and constantly request landlords to provide services or upgrade.
Sr. Member
Feb 7, 2018
923 posts
1478 upvotes
Fantastical wrote: As a landlord, i don't like rent control.

But at the same time, i don't feel it's completely unfair considering the following:

1. Lots of business industries are regulated by the government. Food Delivery fee has a cap, COVID capacity restriction, etc.
2. Most landlords make most of their money from capital appreciation rather than from rent
3. it's important for renters to afford home so that they don't end up sleeping on the street. Lots of homeless ppl have a big impact to overall society and economy.

To adjust to rent increase control, i minimize my expnse by not making any improvements to my rental property while my tenants are occupying the properties. I hope all tenants don't abuse the system and constantly request landlords to provide services or upgrade.
Rent control maybe, but at least have some consistent methodology so businesses (landlords) can plan and allocate capital appropriately. I’ve gone through their math, there’s no way it should be 1.2% with inflation so high this year. 2020, sure it was a down year so no increases I kinda get.

The way this govt has treated landlords over the last 2 years (rent control, press conferences saying don’t pay your rent, LTB taking a year to kick out deadbeats) it’s no wonder people buy investment properties and keep them vacant. At the end of the day, making landlords the enemy will lead to less rental properties available and higher rents all around.
Sr. Member
Jun 15, 2015
792 posts
924 upvotes
Thornhill, ON
It's time to ask the tenant to leave coz I'm moving in for 1 year, at least.
Deal Addict
User avatar
Aug 16, 2011
1043 posts
1077 upvotes
North York
Can someone explain something to me. The landlord at my apartment is raising rent by more than the guideline. They had given me the notice 90 days ago but it mentions that I do not have to pay the increase if I choose not to, until the order is issued. I've chosen not to until it is approved by the tenancy board and I realize if approved that I will owe the previous month(s).

My question is how would I know the status and whether the order was issued?
[OP]
Deal Fanatic
User avatar
Dec 24, 2002
6753 posts
1454 upvotes
Fantastical wrote: As a landlord, i don't like rent control.

But at the same time, i don't feel it's completely unfair considering the following:

1. Lots of business industries are regulated by the government. Food Delivery fee has a cap, COVID capacity restriction, etc.
2. Most landlords make most of their money from capital appreciation rather than from rent
3. it's important for renters to afford home so that they don't end up sleeping on the street. Lots of homeless ppl have a big impact to overall society and economy.

To adjust to rent increase control, i minimize my expnse by not making any improvements to my rental property while my tenants are occupying the properties. I hope all tenants don't abuse the system and constantly request landlords to provide services or upgrade.
There's a lot of landlords relying on that income as a supplement to cpp ....the capital appreciation doesn't apply unless you sell.
Jr. Member
Jul 24, 2010
104 posts
82 upvotes
Toronto
rb wrote: There's a lot of landlords relying on that income as a supplement to cpp ....the capital appreciation doesn't apply unless you sell.
If you are in this boat, talk to an accountant and get CCA deductions. You will get a big refund when you file your annual takes. But you will pay higher capital gains when you sell the property
Deal Addict
Jan 9, 2010
2478 posts
2141 upvotes
watul wrote: If you are in this boat, talk to an accountant and get CCA deductions. You will get a big refund when you file your annual takes. But you will pay higher capital gains when you sell the property
Recapture is taxed as income, not capital gains. The logic is because you took the CCA deduction which was a full deduction against your income, and when you sold it the asset actually appreciated, not depreciated so that CCA in a way shouldn’t be claimed since there was no decrease in value on that property.

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