Life of an Ontario landlord has just become more daunting

[Roy N.]

Fresh Queen's Park, the Ontario provincial government tables their measures to slow down the run-away real estate in the GTA.

Among them ... rent control for everyone!

[Note:  I thought rent increases for rent controlled properties in Ontario were capped at 2.5% or the CPI (currently around 1.5%) whichever is lower]

And a bow shot out to wholesalers:

And a "serious"(?) look at double ending:

Ontario is also going to get a Standard Form of Lease ... 

[Ming Lim]

@Roy N. - I've been tracking this closely. There are few things I'm happy to hear.

1) "Speculation Tax" I'm glad to see this come in place. While Toronto has had the fundamentals to support healthy growth, the rate at which prices are exceeding those fundamentals is the problem. I'm not sure if this is going to have it's intended effect, as Toronto foreign investment is (anecdotally) lower in Toronto vs. Vancouver. Also, Vancouver market is starting to recover now with a red hot March numbers now being reported.

2) Development Rebates - One of the reasons that Toronto has so much illegal rental accommodations is the very high development fees. The city has been charging up to $30k per unit for multi-family conversions. Investors don't want to do it illegally, but at that price, many are hiding their rental conversions. Making this cheaper and easier for landlord will increase rental supply.

3) Double Ending/ Paper Assignments  - About time. Too many shady deals have bene going on in Toronto and the problems have been exacerbated by the hot market. I want to see an open bid process (in a multiple bid situation) and a ban on double ended deals.

4) Standard Form Lease - I'm in favour of this. There are a lot of shady landlords slipping in illegal clauses into leases. Let's keep everyone educated of their rights and keep both tenants and landlord on the up and up.

I'm not wild about rent control, but selfishly this has little impact to me. My tenant profile is young and transitional so I haven't had any problems with lifers.