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).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%
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.
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.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.
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.Worriedone wrote: ↑ 1.2% or 5% wouldn't make a diff to me really but for a lot of landlords it would.
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.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.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.
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.
