Thread by @mr_lois_lane

🏙️🏡In recognition of rapidly rising rents, the four major parties in Ontario are promising some big changes for renters, including rent control and vacancy control. I talked to two housing experts about what impact those policies could have. #OnPoli #OnElxn [1/7]

https://twitter.com/TheAgenda/status/1527798829466234881

Ontario units built pre-2018 are subject to rent control, meaning landlords can raise rent by only a set amount each year (typically between 0.5 and 3 per cent). However, landlords can apply to make "above-guideline increases" to recover costs. [2/7]

https://twitter.com/TheAgenda/status/1528918709812662274?s=20&t=KdSd5HeYsF8poJcGFcBB7g

@ScottLeonTO (@wellesleyWI) and @NemoyL (@TorontoMet) says AGIs can help keep units in good repair, but can also lead to unaffordable increases. Leon suggests policy options such as grants to help repairs while keeping rents affordable (more on that in the article). [3/7]

Vacancy decontrol — which allows landlords to raise rents any amount between tenancies — is a major factor in affordability, Lewis and Leon say. Lewis says it can incentivize landlords to “push out” people paying lower rents order to attract tenants who will pay more. [4/7]

The Ontario govt. has said removing rent control encouraged new building, citing 11,000 rental housing starts in 2020. One argument some make against rent control is that it negatively affects the supply of rental units and incentivizes more profitable condo development. [5/7]

Leon and Lewis say rent and vacancy control would make housing more affordable but need to be bolstered by other policies preventing unfair evictions and encouraging the building of affordable rentals. (More on that in the article too: tvo.org/article/where-…) [6/7]

I asked the four major parties to answer written questions about rent control and vacancy control, above-guideline increases and renovictions, and increasing the supply of affordable housing. You can find those at the end of the piece. [7/7]