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The Residential Tenancies Act, 2006 (RTA 2006) is the law in the province of Ontario, Canada, that governs landlord and tenant relations in residential rental accommodations. The Act received royal assent on June 22, 2006, and was proclaimed into law on January 31, 2007.
Rent regulation was first briefly introduced in Ontario under the National Housing Act 1944.After lobbying by business it was repealed in under a decade. The modern history of rent controls began in July 1975 when the Residential Premises Rent Review Act 1975 was enacted after the demand for rent controls became a major issue in the period leading to the 1975 provincial election. [2]
The bill made a number of amendments to the Residential Tenancies Act, 2006 and the Housing Services Act, 2011, including giving landlords the power to offer tenants take-it-or-leave-it repayment plans, bypassing the Landlord and Tenant Board, and allowing landlords to make applications for arrears of rent up to twelve months after the tenant left the rental unit.
Rent regulation was first introduced in Ontario under the National Housing Act, 1944. The Residential Tenancies Act, 2006 is the current law in Ontario that governs landlord and tenant relations in residential rental accommodations. [2] The Act received royal assent on June 22, 2006 and was proclaimed into law on January 31, 2007.
In Canada, there are rent regulation laws in each province. For example, in Ontario the Residential Tenancies Act 2006 requires that prices for rented properties do not rise more than 2.5 percent each year, or a lower figure fixed by a government minister.
The Landlord and Tenant Board (French: Commission de la location immobilière) is an adjudicative tribunal operating in the province of Ontario that provides dispute resolution of landlord and tenant matters under the Residential Tenancies Act, 2006.
A 2010 survey by the Ontario Non-Profit Housing Association revealed that the number of households on affordable housing waiting lists was at an "all-time high of 141,635". [ 156 ] Through partnerships with the government, private investors became interested again in investing in multi-family rental housing in the 1990s.
[39] [40] However, there are restrictions: foreigners can own up to 30% of the apartments in a condominium and a maximum of 250 individual houses within a designated area. [41] The ownership period is limited to 50 years, with an option to extend for another 50 years.