Not All Ontario Rental Units are Rent Controlled
What may come as a surprise to some individuals, not all Ontario rentals are subject to rent control. Laws surrounding rent increases are found in the Residential Tenancies Act. One such exemption is:
New buildings, additions to existing buildings and most new basement apartments that are occupied for the first time for residential purposes after November 15, 2018 are exempt from rent control.
CTV recently published a story about a couple who were "shocked" to receive an increase of 25% as the condominium they lived in was first occupied in May 2021. When signing a lease it is best to remain informed of the law and its consequences. To read this story, click here.