Canadian Apartment Properties Real Estate Investment Trust T.CAR.UN

Rent increased 2.5% max in Ontariowe

[Dogsbreakfast4U]

Government limits rent increases to 2.5% for 2023 when inflation is at 7% plus. They are saying they are doing this to help tenants in this period of high inflation that governments are in large part responsible for. Landlords are of course rich and can absorb the difference! Government also says they are working hard to have more rental properties built. Promoters would be crazy to do so knowing they won't be able to increase rents to keep up up with their expenses. When governments try to control everything it ultimately ends badly. Welcome to socialism.

[Mephistopheles3]

I think rent controls are quite bad in general and this has been proven by almost all economists, whether conservative or liberal.  That being said, the recent increase to 2.5% was not the Province of Ontario going crazy this year - they were following the rent guidlines that have been out there for like 20 years.  Rent in ON is capped at the lesser of 2.5% and CPI.  So Dougie F

[AlwaysLong683]

Here's an article from the CBC News website outlining the decision, which applies to Ontario. Not sure what the other provincial governments have decided, However, according to the above article: "The provincial rent increase guideline — the highest a landlord can increase most tenants' rents without the approval of the Landlord and Tenant Board — will be raised to 2.5 per cent in

[Mephistopheles3]

Right, they can do AGI applications (Above Guideline Increase) to request more, but need to have a case like substantial renovations done on the building.  Mark Kenny recently was doing an interview and he says he hates that system as much as tenants do.  What ends up happening is a huge backlog, CAR discloses how many AGI's are in the queue and it just keeps going up.  

[AlwaysLong683]

Yeah, the 100 basis point interest rate increase by the BOC yesterday is really throwing markets for a loop. Most were expecting "only" a 75 bps increase. The big Canadian banks are taking quite a hit to their share price even though higher rates are typically good for them as they can increase the rates they charge on mortgages and other loans, but I suspect the market fears an