RENT CONTROL RULES LEAD TO CANCELLATION OF NEW ONTARIO UNITS

Sep 25, 2017

By Michael Kramer

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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.

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