As of Friday, rent increases for 2021 are now prohibited!
Join Lawrence Mak as we discuss the new rental laws as of August 30, 2020.
1. Rent increases are prohibited in 2021. This means that the last day to serve 90 days notice is Monday, August 31, 2020 for the maximum of 2.2%.
2. From Bill 184, any illegal rent increase that the tenant has paid for 12 months, is deemed to be acceptable by the tenant and is now LEGAL.
3. Toronto has introduced new short-term rental legislation starting September 10, 2020. All rentals shorter than 28 days have to be registered and only primary residence can be used.
If you are a landlord, investor or tenant who is curious about what’s going on, please call or text Lawrence at (416) 276-4895.
Lawrence Mak
Real Estate Broker at EXP Realty.
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