Tell the Ontario government to change Above Guideline Rent Increases as promised!
Did you know that close to a third of all renter households in Ontario are tenants and almost half of Torontonians rent their home?
Meanwhile, renter households tend to have lower incomes than homeowner households. Almost half of renter households in Ontario have annual incomes below $40,000. As rents continue to rise in most of the province’s urban centres like Toronto, it is becoming extremely difficult for these tenants to make ends meet.
One of the main issues with rising rents is that many tenants are paying for landlords’ maintenance costs through Above Guideline Rent Increases (known as AGIs). Unable to pay the rising rents, many tenants are pushed out of their communities.
Additionally, many of the AGI applications approved at the Landlord and Tenant Board aren’t improving the quality of tenants’ housing units. Rather, the Board approves rent increases for “aesthetic” improvements that help landlords ask for higher rents from new tenants.
Landlords are enjoying large profit margins in what industry leaders are calling “the strongest rental market in 30 years”. AGIs allow a landlord to QUARDRUPLE-DIP when it comes to charging tenants rent. Landlords get:
- Tenants’ regular rent
- The AGI portion
- An increase in the value of their property
- Federal and Provincial tax reductions for the costs of maintenance and repair
The status quo is not working for too many folks in our province. But we can stop these unfair practices. Let’s create cities that welcome people from all walks of life, regardless of their income.
Send an email to the Ontario Minister of Housing to voice your concern!