Rent control is a policy tool developed by governments to regulate the amount of money landlords can charge their tenants for rental accommodation. Woven into the fabric of Canada's current housing landscape, with threads of stability and affordability, rent control is designed to protect today’s renters by setting limits to how much their landlords can charge.

However, there are times when rent control does not come into effect! All builds in Ontario that have been built after 2018 are exempt from rent control. This means landlords can raise rent only after the tenancy agreement has been concluded. So join us as we dive into rent control and explain how it works, the pros and cons, and answer some common questions Osgoode Properties residents may have!
 

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Rent Control Explained

Rent control serves as a safeguard for residents, preventing rent from skyrocketing too quickly and ensuring consistency in living expenses. It aims to provide stability and affordability in rental markets, particularly in areas with concerns about rapidly rising costs. However, in 2018, the Ontario government removed rent control for new builds to encourage the creation of more housing spaces. While landlords have some flexibility in adjusting prices for exceptional circumstances like property renovations or increased operating costs, these exceptions are regulated to ensure fairness.

Rent increases typically occur once every 12 months, with landlords required to provide written notice 90 days in advance. In Canada, annual rent increase guidelines set by provincial or territorial governments outline the maximum allowable percentage for rent increases, aiming to balance affordability for residents and reasonable returns for landlords. These guidelines vary between provinces, considering factors like inflation rates and housing market conditions, promoting transparency and predictability in the rental market for a more stable housing environment.

 
Rent Control Policies After 2018

Since November 2018, Ontario has witnessed shifts in its rent control policies. At that time, a decision was made to exempt all new builds from rent control measures, serving as an incentive for developers to pursue new construction projects. For residents of these newly built properties, this exemption implies that landlords hold the authority to increase rent by any amount once the agreed-upon timeframe has elapsed. This change shows how hard it is to make rules that make both renters and builders happy while trying to create a housing market that's fair and works well for everyone.

 
The Osgoode Difference

As one of eastern Canada’s largest owners of residential rental properties, Osgoode Properties prides ourselves on our ability to look out for our present and future residents. All of our Ontario properties were built before 2018, which means all our apartments are guided by rent control. This ensures that our tenants benefit from the stability and predictability afforded by rent control measures, allowing them to plan their finances with confidence.

At Osgoode Properties, we understand the importance of providing affordable and secure housing options, and we are committed to upholding these principles while delivering exceptional living experiences for our residents. So rest assured, you can enjoy the peace of mind that comes with rent control protections, ensuring a bright future in your new home.
 

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Rent Control Q&A

Here are some of our residents’ most asked questions about rent control.

1. What provinces and territories in Canada have rent control laws?
   Most provinces and territories in Canada have some form of rent control legislation in place. However, the details and extent of rent control measures vary widely. For instance, provinces like Ontario and British Columbia have comprehensive rent control policies that cover most rental units, while others may offer more limited or temporary regulations.
    
2. Are there any exemptions to rent control policies?
   While most residential rental properties fall under rent control, there are often exemptions for certain types of housing or situations. For example, some provinces may grant immunity from rent control regulations for a certain period to new construction or units that have been significantly renovated. Additionally, some rental properties may be spared if they are owned or operated by specific organizations, such as non-profit housing providers.
    
3. Can landlords apply for rent increases above the allowable limit?
   In some cases, landlords may apply for rent increases above the allowable limit set by rent control regulations. This often requires demonstrating significant financial hardship or the need to cover specific expenses, such as major repairs or renovations. However, approval for such increases is typically subject to review and approval by a regulatory body or government agency.

 
Rent control is an essential policy that all renters should be aware of. In Canada, this vital policy serves to foster fairness and stability in the rental housing market. By striking a delicate balance between the interests of all parties, rent control helps ensure that housing remains accessible and affordable for all.