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Rent control math in Toronto vs. the vacancy exemption loophole
I compared two apartments I toured in Scarborough last month, one under rent control from 2018 and one built in 2020 so it's exempt. The 2018 unit had a $2,100 rent that can only rise 2.5% per year, but the 2020 unit was listed at $1,950 with zero cap protection. Reading the fine print, the landlord can hike that by 8% or 15% after a year, no approval needed. Within 5 years, the older unit saves me roughly $4,300, even though the newer one has better windows and a dishwasher. Has anyone else factored in the exemption rule when comparing listings, or do people just look at the sticker price first?
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brookekelly2mo ago
The 2.5% cap only applies if the unit was occupied before November 2018, so yours might not qualify.
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