Rent control is doing little to curb Toronto’s soaring rents via Financial Post
Do stricter rent control laws slow the increase in residential rents? Housing advocates and left-leaning governments believe they do. However, recent data from Ontario appears to offer further proof that this is not the case.
In April 2017, Ontario’s then-Liberal government introduced the Rental Fairness Act, which expanded rent control to all private rental units. The Act restricted rent increases to 1.5 per cent in 2017 and introduced additional provisions to protect tenants from being evicted.
The Act was enacted to protect against “dramatic rent increases.” Chris Ballard, then the Minister of Housing and Poverty Reduction, claimed that the Act would ensure that Ontarians “have an affordable place to call home.”