More than 300 tenants at two Toronto apartment buildings have stopped paying their rent.
, a landlord can apply for these rent increases if,"the landlord's costs for municipal taxes and charges have increased by an 'extraordinary' amount", for"significant renovations, repairs, replacements or new additions to the building or to individual units", and if the"landlord's costs for security services increased, or the landlord began providing security services for the first time.
"The AGIs that are impacting the other 60 percent of the building was inherited by the previous owner for work completed prior to our acquisition, in 2016-2018," Hero Mohtadi, VP of residential operations and asset management, told CTV News Toronto. Mohtadi said that construction has been"focused on ensuring the long-term viability and safety of the building," but that the work is independent of any AGI and that Dream Unlimited has not applied for any AGI for this work."As we work towards resolving the prior owner’s AGIs, we have made repeated offers to develop individual payment plans for residents," Mohtadi said."To date, only 30 out of 239 residents have requested any sort of assistance.
"As the building was occupied after 2018, West22 does not fall under the purview of the provincial rent increase guidelines," Mohtadi said."We understand that affordability is a concern for many individuals and families, and have strived to keep the lease rates at West22 significantly lower than the market value. Even with recent increases, rents at West22 are still 30 per cent below market standards.
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