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'This is egregious': Sisters shocked when Toronto landlord raises rent to $9,500 a month (toronto.ctvnews.ca)
submitted 3 years ago by to c/canada@lemmy.ca
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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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[–] 0 points 2 years ago* (last edited 2 years ago) (1 child)

Well they can just purchase their own property and not have to pay rent, right? If someone raised the rent to $1mil I don't think anyone would live there, it's a free market no?

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  • [–] 2 points 2 years ago

    The point of raising the rent to ludicrous amounts isn't to actually get that amount, it's to get rid of your tenants which usually have protections. This is just a cheap way around those protections and a loophole that should be closed.

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