(UNLESS OWNER OCCUPIED OR CAPITAL IMPROVEMENTS)If the land lord supplies heat, rent increase shall not exceed 4% otherwise don't exceed 3%.tenants 65 or older 2%new tenants increase can not exceed 5% over the last tenant's registered rentyou must provide a new tenant the previous rent amount in writing.you must apply to the city for each increase with 60 days notice, depending on the US department of housing and urban development for a unit of similar size.fines will be levied on a daily basis if in violation. 

Personally I have lived inside without heat or plumbing for months. floorings plaint insulations those were things I bought weekly as I could afford them. 

And while i haven't seen it reflected in the monthly reports, from helping some house hacking clients and some other first-time buyers in Denver lately, I can feel the market heating up -- more homes going in the first weekend, more going for over asking, more multiple offer situation. if you're breaking even, then great.

It could also be the age of the systems (roof, electric, plumbing, heating) or other factors. 

The nice part is, I renovated the whole thing in 2020(new shingle roof, new siding, new heating system, new HW tank, new kitchen, etc.) so I dont foresee any big CapEx expenses in the near future.

The heat pipes will freeze and burst if the heat is not left on. 

Like plumbing and heating.  

Heat pump?

It pays the taxes, the water and sewer, and the cost to heat the property while leaving some for maintenance.

Your renovation number seems very low for a newbie trying to get this done in Ontario: you'll have to split the single-family and then also put in another kitchen and bathroom, manage the heating somehow and then gas and water.