647
submitted 1 year ago by girlfreddy@lemmy.ca to c/canada@lemmy.ca

The landlord had told them he wanted to raise the rent to $3,500 and when they complained he decided to raise it to $9,500.

โ€œWe know that our building is not rent controlled and this was something we were always worried about happening and there is no way we can afford $9,500 per month," Yumna Farooq said.

you are viewing a single comment's thread
view the rest of the comments
[-] agarorn@feddit.de 0 points 1 year ago

Not sure why you are down voted. If people know why this limit is not viable in this case they should tell. Us.

[-] Rentlar@lemmy.ca 4 points 1 year ago

From that person's link:

The guideline applies to the vast majority โ€“ approximately 1.4 million โ€“ of rental households covered by the Residential Tenancies Act. It does not apply to rental units occupied for the first time after November 15, 2018, vacant residential units, community housing, long-term care homes or commercial properties.

[-] Croquette@sh.itjust.works -1 points 1 year ago

Because they can't bleed their tenants dry otherwise.

It's not enough to have someone else paying your mortgage for you, you need to be cashflow positive each month as well.

this post was submitted on 06 Sep 2023
647 points (97.0% liked)

Canada

7230 readers
389 users here now

What's going on Canada?



Communities


๐Ÿ Meta


๐Ÿ—บ๏ธ Provinces / Territories


๐Ÿ™๏ธ Cities / Local Communities


๐Ÿ’ SportsHockey

Football (NFL)

  • List of All Teams: unknown

Football (CFL)

  • List of All Teams: unknown

Baseball

Basketball

Soccer


๐Ÿ’ป Universities


๐Ÿ’ต Finance / Shopping


๐Ÿ—ฃ๏ธ Politics


๐Ÿ Social and Culture


Rules

Reminder that the rules for lemmy.ca also apply here. See the sidebar on the homepage:

https://lemmy.ca


founded 4 years ago
MODERATORS