Bill 124 – Rental Fairness Act, 2017
So if you didn't serve the notice of rent increase (the N2) prior to that date, you are out of luck. This change will be particularly harmful for condominium investors. This was a slap in the face to developers and investors who made their economic decisions based on the current statutory framework.
So worse and worse it gets. While the government claims they need housing for low income people, they keep making it more and more impossible for people looking to rent out space in their homes.
This was a private members bill introduced by NDP member Peter Tabuns, and it has passed 1st reading. If the bill is passed as it stands, it would: