Housing market update: November 2023
The housing market shows a marginal increase in home prices, declining sales, and signs of cooling amid high interest rates and fluctuating construction starts.
As at February 2024, the LTB had over 53,000 unresolved cases. This backlog represents thousands of delayed hearings, unpaid rent, and prolonged hardships for landlords and tenants alike.
In a recent report, TRREB explored the significant structural inefficiencies at the LTB and how they contribute to Ontario’s broader housing challenges. They also proposed actionable solutions to deliver faster, fairer outcomes for all parties.
Here are the top recommendations:
There’s already been some movement. The Ontario government has acted on two of TRREB’s recommendations: relaxing penalties for minor application errors and streamlining case reassignments between adjudicators.
As Canada’s largest real estate board, TRREB brings a strong voice to the conversation. Combined with the advocacy of the property managers, landlords, and tenants who experience these challenges firsthand, there is hope for a more efficient LTB.
More LTB headlines
Landlords call for automatic eviction of non-payers – PayProp blog
These Ottawa landlords say they've fallen victim to the same 'professional' tenants – CBC
Ontario landlords contemplating rental unit conversions amid regulatory logjam – Canadian Mortgage Professional
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