Ford dropped rent control on new units in 2018. Since then thousands have come online, and tenants facing double-digit increases ask: was it worth it?

Maria Chubulu thought she had won a loan jackpot in Toronto.

A new “wonderful” bedroom, with no one to rent, just a few minutes from the front of the water. Through the window, he could see the CN Tower. And most of all, he signed a lease in January 2021, while in the rented city it was less than usual.

But his monthly rent bill – set at $ 1,950 – is expected to rise.

Real money is still in the air, Chubulu said, but the landlord is expected to increase the price to between $ 2,350 and $ 2,650 this summer – a jump between 20.5 and 35.9 percent.

This could be allowed under a three-year exemption from rent control laws in Ontario, because the units that came into effect after Nov. 15, 2018, founded by Doug Ford’s Progressive Conservatives shortly after forming a government.

“I did not know at all,” Chubulu said of the release.

More than 7,500 rented out-of-rent rentals have been built in Toronto alone since the law was enacted, says Urbanation market research company, as well as condos and other properties rented by investors.

And over the years, more and more renters are finding themselves in units without rental controls and facing the prospect of higher rental costs.

The provincial government, with the help of other academics and industry workers, says non-compliance with rental improvements is a way to encourage more demand for rent and hope to reduce rent.

But some academics and advocates argue that the lender exchanges experiencing instability are too high, and that the number of units built since the program began to work has not been able to meet the demand.

And with the cooling off of rent last month, Urbanation President Shaun Hildebrand is waiting for some of the signatories to the COVID-19 lease – while other homeowners have offered less or less incentives to reduce – perhaps. see a higher jump than you expected.

“I think some renters are experiencing a setback,” he said.

Among them is Rasool Moradi Dastjerdi. At the beginning of the epidemic, he also saw the opportunity to find a better home for himself, his wife and their three-year-old daughter. The couple had moved into a one-bedroom apartment in an old Toronto home.

For only a few hundred dollars, Dastjerdi acquired a new, reusable condom close to the University of Toronto, where he works as a doctor. But this fall, the landlord reportedly said the $ 1,760 rent he had agreed to increase to $ 2,150 in 2022.

To their surprise, Moradi Dastjerdi insisted they would not be allowed, pointing to the annual increase set by the district – 1.2 percent of 2022. The landlord responded, Moradi Dastjerdi told Star, marking the 2018 release of new shares. .

“She’s offering this (pardon) for help, I don’t know who she is,” he said. It is a law that they believe adds to the financial burden on lenders, increases the risk of landlord disputes and assists investors in the tenants.

Hildebrand says his company has seen an increase in rental development in Toronto over the past three years. He believes the change in policy has contributed to the increase, but said it may not be the only thing.

With Towns accounting for between 1,000 and 1,300 new rental units completed annually between 2016 and 2018, Hildebrand said it expects 4,805 new units this year and 4,246 next year.

However, more than 3,000 rental properties were completed in 2019 which would have been better before the policies were changed, he said. And he saw an interest in attracting interest in recent years from investors in institutions such as pensions in targeted lending companies.

He also warned that the numbers are still low compared to what is needed.

For David Hulchanski, a housing specialist with the University of Toronto, the increase has not been large enough to justify this point. He believes that the facilities and incentives of the past such as the Multi-Unit Residential Building program about 1970s – which provided tax opportunities to boost lending activity – were very effective in increasing availability.

While they do not believe the evictions will hurt the city’s most vulnerable people – newly built units, he said, are often rented at higher rates at the start – he thinks most lenders should be aware of the rules and if their share is worth it. before signing the contract.

“People in those groups need to know,” he said. “There are no rules regarding annual rental increases, unlike other similar units, probably across the street but for a number of years.”

Frank Clayton, senior researcher at Ryerson’s Center for Urban Research and Land Development, believes the process has been effective, but only limited. Although the manufacturer was inspired by the 2018 reforms, Clayton said, he is aware that it could be short-lived, as well as the potential for a new government and improved rent every four years.

“If you are a businessman looking to buy a new loan … you want to make some money. And if there is uncertainty in the findings, then there are a number of risks, and you may not be able to do so. ”

In the months leading up to the next general election, Ontario politicians have already been at loggerheads over rent control.

At Queen’s Park in October, NDP homeowner Jessica Bell denounced the rent lawsuit saying she was facing 57 percent. State House chief Paul Calandra defended the eviction in response, saying it could make further announcements to lower rental rates.

In the meantime, Chubulu and Moradi Dastjerdi are still waiting to hear about their 2022 prices.

Moradi Dastjerdi says the landlord eased their initial request, giving a 10.8 percent increase instead: $ 1,950 per month, starting in March. There is still more than they think they can afford.

Chuburu says he was able to add, but was disappointed with the infinity. Even a person who is a great renter, he said, will not overcome the lure of big profits.

“It doesn’t just affect the people who live there,” he said. “It’s about money.”


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