Toronto Renters Forum

Landlords => Landlords => Akelius => Topic started by: Sandy on December 14, 2022, 10:17:41 am

Title: Akelius Leveraging Lack of Rent Control on New Buildings...
Post by: Sandy on December 14, 2022, 10:17:41 am

Akelius is taking advantage of the loophole that Doug Ford created in our renter's rights, and will leverage their new ability to set arbitrarily high rents on new buildings to extract exorbitant rents from their tenants.

Here's what you need to know about how Doug Ford gutted rent control, and the effect it is having on renters:
The Ford government removed rent control on new units. A year later tenants are reporting double-digit increases (https://www.toronto.com/news/the-ford-government-removed-rent-control-on-new-units-a-year-later-tenants-are-reporting/article_5be1b871-c1d9-5e12-92b6-8b437404823b.html)

And here's the announcement about Akelius's new buildings that because of Doug Ford's loophole will have no rent control:
Two Infill Rental Buildings Proposed Near Lawrence and Don Mills (https://urbantoronto.ca/news/2022/12/two-infill-rental-buildings-proposed-near-lawrence-and-don-mills)

My heart goes out to the renters who are unaware of the new rent-hike loophole, and end up renting in these buildings...  they will be completely at the mercy of Akelius.  Once a year Akelius will be able to raise these renters' rents to any amount Akelius wants, and the only rebuttle available to these renters will be to move out.