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.
Liberals and PCs vote against motion of NDP to close rent control loophole /protect renters today #onpoli @Peter_Tabuns @acto
— MPP Cindy Forster (@cindyforster) April 6, 2017
More to come as the story develops.