Market update November 2024: BoC rate cut affects renters above buyers
It seems Bank of Canada's fourth interest rate cut and the fall in inflation will hit the rental market harder than the sales market.
Bill 10, the Protect Ontario Through Safer Streets and Stronger Communities Act, 2025, has received royal assent and is set to become law. It introduces new rules that could hold landlords or property managers responsible if their properties are used for drug production or trafficking.
Social housing providers warn they will be disproportionately impacted, as many of their tenants live with substance addictions.
The bill says landlords and property managers can defend themselves by taking “reasonable measures” to prevent the drug activity, but doesn’t define what those measures are. Until there’s clarity, regular inspections, written reports, and thorough follow-ups on complaints or concerns from neighbours are all good practices for proving due diligence.
Housing providers would only be at risk of penalties if there is clear evidence they knew about illegal activity but failed to act, whether by investigating, issuing warnings, or starting the eviction process.
In reality, however, Bill 10 merely adds new layers of potential liability to existing regulations. Ontario’s Residential Tenancies Act already requires landlords to maintain a safe and comfortable rental environment.
More regulation headlines
Landlords fed up with LTB take matters into their own hands – PayProp blog
Ontario government proposes Bill 17 to advance home-building target – Osler
Only 6 days until Toronto's new renovictions bylaw comes into effect – CBC
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