Ontario Has Lost 1000 Planned Rental Units Since New Housing Rules Introduced Report

Ontario Has Lost 1000 Planned Rental Units Since New Housing Rules Introduced Report

The Canadian Press - Toronto - A group of Ontario's rental-housing providers say at least 1,000 planned rental units have been cancelled or converted to condominiums since the provincial government introduced new rent control rules in the Spring.

A new report commissioned by the Federation of Rental-Housing Providers of Ontario says the Liberal government's Fair Housing Plan has negatively impacted the province's rental housing supply.

The report says that before the introduction of the government legislation, 28,000 rental units were in the planning pipeline, but since the new rules were introduced 1,000 of those units have been cancelled or converted to condominiums.

The report estimates that if 6,250 new rental units are not built per year in Ontario supply will continue to drop.

Housing Minister Peter Milczyn says the province does not plan to change rules which cap annual rent increases and which previously only applied to units built before 1991.


Maurice King Headshot
Author:
Phone: 905-409-6730
Dated: September 27th 2017
Views: 64
About Maurice: ...

Property Search








RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Q4 2017 Recap A Strong Canadian Economy And Steady Real Estate Market - Strong GDP, wage, and employment
Wireless Internet Connection Keep It Secure - With all of the wireless devices
Mortgage Rules Updated Again - Last month the Office of the
Renovating Are You Covered During And After - Before starting a renovation meet

Our Bloggers

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

King Home Team
91 Columbus Road East
Brooklin, ON
289-807-1423
888-317-7238