July 6, 2017
Ontarians will see rent increases capped at 1.8% for 2018.
The Rental Fairness Act, 2017, will ensure all privately owned rental properties across the province will have rent capped at a 1.8% increase between Jan. 1 and Dec. 31, 2018.
Mike Stahls, a broker with Royal LePage Real Quest Realty Brokerage, said it’s too early to tell exactly what kind of effect the change will have.
While rent rates need to be reasonable for tenants to be able to afford them, Stahls said, the fact remains the housing market is for-profit.