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Above-guideline rent increases in Toronto up 250 per cent in six years: report
Corporate landlords are responsible for 84 per cent of all above-guideline rent increases in Toronto, according to RenovictionsTO
By Julia Mastroianni
Justin Wei / Unsplash
The number of applications for above-guideline rent increases (AGI) between 2019 and 2020 was two and half times than in 2012 to 2013 in both Ontario and Toronto, according to a new report.
On Wednesday, RenovictionsTO released data that found there were 296 AGI applications in the 2012-2013 fiscal year in Ontario, versus 758 in from 2019-2020.
In Toronto during the same period, the number went up from 117 to 294.
AGIs refer to rent increases that surpass the provincially mandated yearly percentage limit on rent increases. Usually, that amount hovers around two per cent, though currently the Ontario government implemented a rent freeze at 2020 levels for 2021. ....

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