Sep 25, 2017
By Michael Kramer
At least one-thousand new rental units planned for the province – have been cancelled – since the government introduced new rent control rules earlier this year.
The information is contained in a report commissioned by the Federation of Rental-Housing Providers of Ontario – and states that about 28-thousand units were in the planning stages – before the province’s Fair Housing Plan was introduced.
It says one-thousand of the units have been cancelled or converted to condominiums – but Housing Minister Peter Milczyn says there are no plans to change the rules – which cap annual rent increases in both newer and older buildings.