HOW THE GOVERNMENT OF ONTARIO CAN RESOLVE THE IMMINENT HOUSING CRISIS, REDUCE THE BACKLOG AT THE LANDLORD AND TENANT BOARD, AND HELP SMALL RESIDENTIAL LANDLORDS AND TENANTS
September 8, 2021
The Province of Ontario has failed to protect small residential landlords and as a result they are suffering due to financial losses, and the system has failed them.
Landlords are frustrated with the system and feel like the Ontario Government has failed them. The landlords would rather not rent their units instead of having tenants live for free. Several landlords have confirmed that they will not be renting their units once they are able to evict their tenants for non-payment. This fact is very concerning considering that it could lead to a devastating housing crisis in Ontario.
The decreasing supply of rental units together with the increasing demand for rental units due to increased immigration over the next few years is going to create a housing crisis.
It has been reported that Canada aims to welcome 401,000 new immigrants in 2021 and welcome even more newcomers over the next two years. The 2020 data confirms there was 284,387 immigrants coming to Canada of which approximately 50% came to Ontario. With the number of rental units declining and 200,000 immigrants coming to Ontario per year for the next few years where does the Ontario Government expect these people to live?
The Government of Ontario could take immediate action and resolve the imminent housing crisis by compensating the small residential landlords for rental losses due to the pandemic retroactive to March 16, 2020. This would result in some rental units staying in the rental market, which would help tenants and future tenants. In addition, if the landlords are compensated then this could result in reducing the backlog at the LTB, which would directly help landlords and tenants.
