Province lifts rent controls on new units as strategy to
build more rental stock
Rent controls are now lifted on new units occupied for the first time
retroactive to Nov. 15, as part of the provincial government's strategy
to create more rental housing in the province.
Steve Clark, Minister of Municipal Affairs and Housing, made the
announcement this morning adding details to provisions first announced
in the government's fiscal update.
Controls are lifted on new buildings, mobile home parks, land lease
communities, additions to existing buildings, and new second units like
Rent controls remain in place for current tenants with lease
agreements, or who are paying month-to-month rent as part of a previous
lease agreement. In 2019 the increase is capped at 1.8 per cent.
The Ford government has also eliminated a development charges rebate
program that applied to new rental construction.
"Exempting new units from rent control is a better way to encourage
developers across Ontario to build more rental housing than using more
than $100 million of taxpayers' money to rebate development charges in
a select few communities," according to the press release.