Continuing to exacerbate the difference between the cost of renting and cost of owning. https://t.co/kjMIW1s7LV
— Landlord Relief (@LandlordRelief) June 20, 2015
Well, at 2% it’s much higher than the “politically motivated 2011 Ontario rent increase guideline of .7%.
Okay, this is interesting news. But does it really matter that much? In most cases probably not because real estate is a long term investment, and when it comes to Toronto residential rents:
1. Your best Toronto rent is not necessarily your highest rent; and
2.You need to be thoughtful about when, whether and how much to raise residential rents anyway.
And as a reminder:
On the one hand:
But it's not exempt from the market driven rents. https://t.co/IsCTVt17KJ
— Landlord Relief (@LandlordRelief) June 20, 2015
But, on the other hand:
Higher % of people living on less and less money. Is this good for #Torontorentals? https://t.co/qpvkBvkYKr
— Landlord Relief (@LandlordRelief) June 20, 2015