Yeah, fuck renovictions. Honestly, enough of this having your cake and eating it too shit. Landlords who want to renovate should be responsible for all moving/accomodation expenses and be required to give right of first refusal to preexisting tenants at the same existing rent or at most the maximum allowable rental increase for that year.
I would go even further and require that landlords who want to rent out a place have to irreversibly change and rezone it so its a rental that they or their family may not occupy or boot out existing tenants based on the persknal use loophole.
Edit: if there are issues with incentives, credits can be discussed but at no point should kicking people to the curb be allowed as a loophole or acceptable outcome in any sense.
McGrath pays $661 for her downtown Hamilton apartment she’s lived in over 20 years.
This is the problem with rent control… McGrath is being subsidized by new renters, as someone has to pay for maintenance, taxes, etc.
Is she, though? I suspect the truth is that her rent is covering her part of the taxes, maintenance costs, any utilities folded into the rent, etc. The issue is A. how much profit her landlord is making off her (probably not very much, I admit) and B. how much profit her landlord thinks they should be making off her unit. Almost certainly B > A, but that doesn’t mean that the landlord needs the extra money or is operating at a loss.
Landlords, like anyone else running a business, deserve some profit if they’re doing a decent job, but only some.
Really hoping this works out. They gotta go after the n12 loophole next.
With the provincial government gutting the LTB and to federal government not wanting to touch these issues. Municipal governments taking up need to fix things is a glimmer of hope.
Doesn’t this encourage speculators to buy a place and not rent it out, further exacerbating the housing crisis? We need taxes on empty units to be high enough to maintain the incentive to rent them out.
