A real estate investment company that’s bought up dozens of older apartment buildings in recent years says it has become “a great Canadian growth story,” while some of its tenants say they’re living in a different reality.
Private real estate investment trusts have flourished under Ontario’s current rules that allow landlords to raise rents between tenancies, which incentivizes them to push existing tenants out, said Steve Pomeroy, an executive advisor at the Canadian Housing Evidence Collaborative at McMaster University.
The city ordered Equiton to repair walls, plumbing, bathroom counters, bathtubs, ceilings, doorknobs, closet doors, windows, a garbage chute and a smashed glass fire box.
But she’s looking to recoup costs at the Landlord and Tenant Board (LTB) including for the mice traps she bought herself when Equiton failed to address an infestation, and space heaters when temperatures plunged in her unit last winter.
Shelly Morris, a tenant who is a university student and receives social assistance, said if the latest above-guideline increase is approved, her rent will have gone up by over 10 per cent since Equiton took over and she’ll be paying about $100 more a month.
Council passed a slew of measures this summer including requiring landlords to register their apartment buildings and be subject to routine inspections, as well as bolstering a fund to help tenants fight evictions.
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A real estate investment company that’s bought up dozens of older apartment buildings in recent years says it has become “a great Canadian growth story,” while some of its tenants say they’re living in a different reality.
Private real estate investment trusts have flourished under Ontario’s current rules that allow landlords to raise rents between tenancies, which incentivizes them to push existing tenants out, said Steve Pomeroy, an executive advisor at the Canadian Housing Evidence Collaborative at McMaster University.
The city ordered Equiton to repair walls, plumbing, bathroom counters, bathtubs, ceilings, doorknobs, closet doors, windows, a garbage chute and a smashed glass fire box.
But she’s looking to recoup costs at the Landlord and Tenant Board (LTB) including for the mice traps she bought herself when Equiton failed to address an infestation, and space heaters when temperatures plunged in her unit last winter.
Shelly Morris, a tenant who is a university student and receives social assistance, said if the latest above-guideline increase is approved, her rent will have gone up by over 10 per cent since Equiton took over and she’ll be paying about $100 more a month.
Council passed a slew of measures this summer including requiring landlords to register their apartment buildings and be subject to routine inspections, as well as bolstering a fund to help tenants fight evictions.
The original article contains 1,113 words, the summary contains 216 words. Saved 81%. I’m a bot and I’m open source!