The Overhead: Rent Control and Rent Hikes

In Ontario, we have rent control on buildings occupied before November 15, 2018. That means the landlords for these buildings can only raise rents for current tenants once a year at a percentage or "guideline" set by the Province. If they want to raise the rent higher, they have to apply for an Above Guideline Increase (AGI), and their stated reasons have to meet certain criteria such as paying…