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'This is egregious': Sisters shocked when Toronto landlord raises rent to $9,500 a month
(toronto.ctvnews.ca)
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Same thing is happening to me right now (UK). LL inherited a portfolio of mortgage-free properties a few years back, immediately jacked the rent up on them all. I tried to haggle what imo was an egregious rent increase (notified middle of the year after asking for a minor repair), we agreed on a price then he served me notice to quit; via the letting agent, not a peep or thanks from the LL after I've put ~ยฃ90000 into his familys' accounts over 13 yrs.
Of course, I can pay someone elses mortgage, but when I apply to a bank for one myself, I can't afford it.
But when you can't afford it any longer, the landlord is free to replace you with someone who temporarily can. That's the difference!
Bank can't do the same thing?
No