Real Estate

Ontario Rent Increase Cap of 1.2% for 2022

  • Last Updated:
  • Aug 31st, 2021 6:38 pm
[OP]
Deal Expert
Feb 29, 2008
19086 posts
17424 upvotes
Tarrana & The Ri…

Ontario Rent Increase Cap of 1.2% for 2022

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New York 2.5%
California 5% + inflation
BC - between 2-3% (pre Pandemic 2.6%)
Quebec - pre pandemic 3%
Illinois - No rent control
Massachusets - No rent control
Florida - No rent control

Some of the most pro tenant anti-landlord laws on the planet and there is still the complaint of affordability and sky high rents. After a pandemic! The govenrment has already shown you what they think of landlords. Why would anyone jump into the landlord game in 2021 in Ontario?
44 replies
Deal Addict
May 23, 2006
1527 posts
555 upvotes
Vancouver
BC changed the law that only allows CPI inflation as max rent increase....

It hasn't officially published the rent increase for year 2022 yet but looking at the moving average, it appears the rent increase % is 1.5% which is pathetic.

Market rent in Vancouver has increased ~10% YoY.
Deal Addict
Mar 2, 2017
3233 posts
6182 upvotes
Toronto/Markham
I am glad they added the .2%, it moves the needle.

Bunch of communists.
RE Broker
[OP]
Deal Expert
Feb 29, 2008
19086 posts
17424 upvotes
Tarrana & The Ri…
Fantastical wrote: BC changed the law that only allows CPI inflation as max rent increase....

It hasn't officially published the rent increase for year 2022 yet but looking at the moving average, it appears the rent increase % is 1.5% which is pathetic.

Market rent in Vancouver has increased ~10% YoY.
Thanks for that. I expect that nonsense from NDP government anyways.

Rents will continue to be sky high. They have to. Landlords will just build this into the new rent. There will be an even greater push to get tenants out.
Deal Addict
Feb 7, 2018
1123 posts
1915 upvotes
Sigh - even CPC is anti-landlord in Ontario it appears.

I tried to look up their methodology for how they come up with rent increases, and no matter how you slice and dice the data it doesn’t come anywhere close to 1.2%.

I feel like they just had a meeting hijacked by tenant unions and were forced to keep it around 1%.
Deal Addict
Jul 30, 2015
3974 posts
3191 upvotes
Toronto, ON
This is has to be some kind of joke no?
Deal Addict
Jan 28, 2017
1068 posts
1183 upvotes
Doesn't this only apply to pre Nov 2018 condos? I thought new condos are not subject (yet) to these rent increase limits.
Deal Addict
Dec 5, 2004
3957 posts
537 upvotes
Toronto
I lowered my rent mid pandemic by $200 to keep my tenant. I now get to raise my rent $20 after the decrease lol.. oiiii
Sr. Member
Sep 11, 2017
517 posts
378 upvotes
bear20 wrote: Doesn't this only apply to pre Nov 2018 condos? I thought new condos are not subject (yet) to these rent increase limits.
I believe so, unless Ford stipulates a similar rent freeze across the board like he did in 2021
Deal Guru
Feb 22, 2011
12573 posts
16059 upvotes
Toronto
Lol Ontario. OPC becoming liberal, liberals becoming NDP. So what is NDP going to become full blown socialist?
[OP]
Deal Expert
Feb 29, 2008
19086 posts
17424 upvotes
Tarrana & The Ri…
bear20 wrote: Doesn't this only apply to pre Nov 2018 condos? I thought new condos are not subject (yet) to these rent increase limits.
Yes.
[OP]
Deal Expert
Feb 29, 2008
19086 posts
17424 upvotes
Tarrana & The Ri…
Geologic wrote: I lowered my rent mid pandemic by $200 to keep my tenant. I now get to raise my rent $20 after the decrease lol.. oiiii
Did you calculate how many increases it would take to recoup that money?
Deal Guru
Feb 9, 2009
12368 posts
11266 upvotes
sircheersa wrote: Lol Ontario. OPC becoming liberal, liberals becoming NDP. So what is NDP going to become full blown socialist?
Hey Andrea bought clothes from holt renfrew on the ontario credit card.. no one even called her out on it lol... all crooks
[OP]
Deal Expert
Feb 29, 2008
19086 posts
17424 upvotes
Tarrana & The Ri…
sircheersa wrote: Lol Ontario. OPC becoming liberal, liberals becoming NDP. So what is NDP going to become full blown socialist?
NDP will just ban rent.
Jr. Member
Mar 23, 2015
140 posts
228 upvotes
Toronto, ON
Oh noes I can't make money leeching off the human need for shelter boo hoo I'll call an avowed anti-government PC party "communist"
Deal Addict
User avatar
Jan 2, 2012
4399 posts
2574 upvotes
Toronto
Geologic wrote: I lowered my rent mid pandemic by $200 to keep my tenant. I now get to raise my rent $20 after the decrease lol.. oiiii
In hindsight you should have offered a cash back rebate for that time, and kept rent the same on paper. Then post-pandemic you could have just stopped the rebate and rent would still be where it was.
Deal Addict
Dec 5, 2004
3957 posts
537 upvotes
Toronto
rob444 wrote: In hindsight you should have offered a cash back rebate for that time, and kept rent the same on paper. Then post-pandemic you could have just stopped the rebate and rent would still be where it was.
In hindsight I should have. I did give them market rate at the time and they are good tenants so I can't complain too much. They have been there a few years now so let's see how fast market rates will outpace what the government will allow me to increase rent by. That is if they are still there in a few years, I might just sell it and move on.
Deal Addict
Mar 2, 2017
3233 posts
6182 upvotes
Toronto/Markham
rob444 wrote: In hindsight you should have offered a cash back rebate for that time, and kept rent the same on paper. Then post-pandemic you could have just stopped the rebate and rent would still be where it was.
+1

This is how I dealt with the covid discounts, legal lawful price stayed the same, 12 month discount renewable at landlord's discretion. Others kept it simpler and gave 1 month 'off'.
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