The Wynne government has rejected the fast-tracking of the NDP bill intended to protect renters from a current loophole.
Earlier this week, Liberty Village residents were recently faced with the reality of the current Residential Tenancies Act. The Toronto Tenants were given notice from their landlords that a rent hike of 100% would be taking effect in July.
The move is legally possible due to a loophole in the Residential Tenancies Act. Currently, buildings built after 1991 are allowed to have rental hikes as much as a landlord wants. At this time, landlords can raise the rent by whatever amount they wish – resulting in rent increases of 20 per cent, 50 per cent or even doubling a tenant’s monthly rent, according to the NDP.
Thursday’s move by the Liberal government leaves the loophole open for now.
— MPP Cindy Forster (@cindyforster) April 6, 2017
More to come as the story develops.