2021 RENT FREEZE - ONTARIO
Landlords and renters across Ontario - you definitely want to read this!
The Minister of Municipal Affairs and Housing, Steve Clark, will be introducing a bill this fall that would stabilize rents and ensure that the “vast majority of families” in Ontario will not see a rent increase next year.
A press release detailing the upcoming bill outlines that “there would have been a maximum allowable increase of 1.5% in 2021” (Narcity.com). According to CBC News, Clark will introduce the bill in the weeks following the return in session of the Ontario legislature.
1.6 million rental households in Ontario will be affected by this new bill as a result of the economic difficulties that accompany the Covid-19 pandemic.
Do you think a rent freeze for 2021 is a good or bad idea? Let us know what you think!
CBC News - https://www.cbc.ca/news/canada/toronto/ontario-rent-control-1.5704411#:~:text=Charles%20Cole%2FCBC)-,Ontario%20says%20it%20will%20introduce%20legislation%20this%20fall%20to%20freeze,have%20been%201.5%20per%20cent.