Rent Control in Ontario Canada?

[Bryan Hartlen]

We're Canadian expats who have naturalized in the US. We have some funds left in Canada that we're considering investing in rentals in Peterborough Ontario. In discussions with a local realtor we were told that the government (I assume city or provincial) has imposed a cap of slightly more than 2% per year on rent increases AND for the most part it's the tenants decision on whether to extend their lease.

Does anyone in BP-land know this to be true or false?
 

[Roy Cleeves]

This is true.  

Ontario is tenant supportive and tenant protective. 

You can raise the rent once the tenants move out to whatever you can  get.  

If the tenant stays then the rent increase is limited to the government guideline.