Two sisters were shocked when a Toronto landlord raised their rent by $7,000 per month.

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.

  • Croquette
    12·
    1 year ago

    Because they can’t bleed their tenants dry otherwise.

    It’s not enough to have someone else paying your mortgage for you, you need to be cashflow positive each month as well.