Thursday, April 25, 2013

Rental Increases AS Market will absorb

If its built after 1991
There are no landlord Tenant limits for increasing rents.
It is whatever the market will bare.

“I was shocked, and all my friends who live in condos were shocked, to find out that we are powerless.” The now-renamed Residential Tenancies Act sets out tenant protections for all rental units across Ontario, but rent control provisions only apply to buildings occupied before Nov. 1, 1991.

That’s turned out to be great news for condo investors, allowing them to pass on escalating maintenance fees and other costs almost directly to their tenants. But for a growing number of condo tenants, it’s making for an uncertain future.

If your hydro costs, property taxes and maintenance fees increase   you are welcome add that to the rental increase.

What can I answer for you? 

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