Widow stunned by 74% rent increase after Ontario company bought building | CBC News

  • 📰 CBCNews
  • ⏱ Reading Time:
  • 1 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 4%
  • Publisher: 99%

Business News News

Business Business Latest News,Business Business Headlines

A Saint John woman has been given notice of a 74 per cent rent increase on the apartment she shared with her late husband after an Ontario company bought her apartment building.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

If the PCs would like to get behind rent control, that would be nice.

This government does nothing again for these rent increases

This is becoming way to common.

I guess the lottery is over hunny. Shake it off and welcome to reality. You should have done your homework about rents in your area and prepared yourself. My guess is the Ontario company who wants their building occupied is charging the average rent price in the area.

mini_bubbly Bastards!😏That has to be total bullshit.

Somebody please explain what a 'numbered Ontario company' is..... How about giving us the name of this company?.... because if it is a traded reit company... then we can all short the company.

Rent controls at 1% per year (and only if it can be justified) should be slapped on all housing across Canada. Foreign investors (or their proxies) should be prohibited from owning property in Canada. The building of condo towers should be outlawed. Housing crisis solved.

Sad but true; we are going to need a lot more government housing. Tax the real estate investors to pay for it. Bring balance to the system.

It was happend to my business location I left can't afford to pay developers

The federal government should tax home owners more. Can’t u see how it will work ?

I got evicted because they sold the building and the old owner didn't report the damage deposit

Liberals created these corporate monsters. Remember that

I'd destroy the unit. Yes. I realize I'd be liable blah blah blah, but at least it would be ok my own terms.

Absolutely disgusting, how could anyone of conscious think this was ok

1350 is fair rent. The problem is all bills go up accept what's allowed for rent increases year over year. As buildings sell and prices go up, the current rent no longer pays the bill of the new mortgage. It's a business like everything else in this world.

I went through something similar when I lived in Alberta in 2007 or so. It's such a slap in the face when it happens.

Thats cheap compared to ontario rents

Nothing like greedy corporations make life miserable . RaiseCorporateTaxes .

It's happening all over the place. It's terrible here in NS as well. I have seen letters showing an over 100% increase on rent due to 'renovations'. $800 to $1950. It's crazy!!

Greedy landlords 🤬

Holy shit thar is not legal 😳

Dear God, I would then be looking for a large appliance box as my new home. Who among (most of) us could manage that kind of increase on one income? That’s appalling.

Guess they figure if Trudope can screw everyone then can to

Gosh, I wonder why people are fighting to have more rent control?

Food and shelter. Basic necessities. They shouldn't be open to gouging and profiteering. More and more, the $$ signs in peoples' eyes seem to blind them to basic humanity.

Greed has no mercy

Wtf! Again, Greed and dirty cash is king! How pathetic

Unfettered capitalism at its worst

Wtf is this shit… province better step in here

And yet many believe our system isn’t broke.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in BUSİNESS

Business Business Latest News, Business Business Headlines