Toronto condos could get rent control
Toronto's rental market has been under the microscope lately as prices for condos and apartments in the city seem to be getting higher and higher.
This morning, however, NDP MPP for Toronto-Danforth Peter Tabuns unveiled a private members bill aimed at making rent more affordable in Ontario.
According to Metro News, the Rent Protection for All Tenants Act will help provide rent control for everyone. Currently, according to the 1997 Residential Tenancies Act, only buildings built before 1991 have rent control - tied to the rate of inflation - in place.
That's why the many renters who live in condo units can see massive rent increases year after year; the majority of these buildings were constructed after 1991 in Toronto.
Private member bills don't have the highest success rate at the legislative assembly, though the political climate might be right for the government to take action on the rental market now.
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