this post was submitted on 06 Sep 2023
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'This is egregious': Sisters shocked when Toronto landlord raises rent to $9,500 a month (toronto.ctvnews.ca)
submitted 1 year ago by [email protected] to c/[email protected]
316 comments fedilink hide all child comments
 

The landlord had told them he wanted to raise the rent to $3,500 and when they complained he decided to raise it to $9,500.

“We know that our building is not rent controlled and this was something we were always worried about happening and there is no way we can afford $9,500 per month," Yumna Farooq said.

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[–] ClumZy 10 points 1 year ago (1 children)

We have rent control in Paris, France. Appartments are still expensive, but I pay 1600 euros per month for 60sqm in the center of one of the liveliest cities in the world.

Rent control WORKS.

[–] [email protected] -3 points 1 year ago (1 children)

It’s inevitable that any type of price control will lead to supply/demand issues. That’s great it worked out for you but it is well documented that rent control harms rental markets long term. Anyone who disagrees is in denial.

[–] [email protected] 1 points 1 year ago (1 children)

And for the places without rent control with supply/demand issues...

[–] [email protected] 2 points 1 year ago

Yes, multiple things can affect rental supply, not just government price controls.