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The 165 Ontario Story

Rent History

Last Update: 2023-10-17

Along with all the noise, dust and intrusion of 13 years of renovations, wild rent increases have become a fact of life in this building.

The province of Ontario has rent controls in place and they apply to this building. Each year they publish a Rent Increase Guideline that varies year to year with the Consumer Price Index. For 2024 this is set at 2.5%.

Capital investments

Here is a list of the AGI files and the items we've been through already:

(click the File# to view the hearing notice)
SOL-26605 Common Area Renovations10 years157,983.00
Stairwell Painting10 years7,959.00
Elevator Cab Modernization15 years51,261.00
Toilet Replacement15 years27,859.65
Roof Replacement15 years68,964.00
Signage15 years18,507.79
SOL-40297-13 Fire System Repair15 years90,145.76
Roof Safety Anchors20 years16,249.63
Building Exterior & Balcony Repair
Painting the building exterior
13 years662,278.35
Common Area Painting10 years32,063.75
Replace Exhaust Fans20 years2,556.63
Garage Entrance Repair20 years12,725.63
Exterior Painting10 years2,648.72
Drain Repair20 years1,130.00
Building Signage15 years6,633.14
SOL-67472-16 Boiler System Replacement15 years255,278.30
SOL-80883-17 Parking Garage Repairs15 years1,178,160.61
Common Area10 years5,537.00
Roof Replacement15 years156,000.00
Total 2,753,671.96

AGIs by percentage

Here is a summary of the above guideline increases these cases produced:

(click the File# to view the tribunal order)
SOL-26605 2010-07-0113 years2023-07-010.5% - 2.00%
SOL-40297-13 2013-12-0113 years2026-12-014.76% - 5.62%
SOL-67472-16 2016-05-0115 years2031-05-011.25%
SOL-80883-17 2017-07-0115 years2032-07-017.4%
Total13.91% - 16.2%

The rent roll

These increases ride on top of the provincial guidelines and they compound. Further both SOL-40297-13 and SOL-80883-17 exceeded the annual maximum of 3% producing increases for more than one year giving us the following daisy chain of actual rent increases:

201002.1%0.5% - 2.0%2.6% - 4.1%
20112.6% - 4.1%0.7%3.3% - 4.8%
20123.3% - 4.8%3.1%6.4% - 7.9%
20136.4% - 7.9%2.5%3%11.9% - 13.4%
201411.9% - 13.4%0.8%1.76%-2.62%14.46% - 16.82%
201514.46% - 16.82%1.6%16.06% - 18.42%
201616.06% - 18.42%2.0%1.25%19.31% - 21.67%
201719.31% - 21.67%1.5%2.5%23.31% - 25.67%
201823.31% - 25.67%1.8%2.5%27.61% - 29.97%
201927.61% - 29.97%1.8%2.4%31.81% - 34.17%
Rent increases due to AGIs
2019 Expected17.9% Actual31.81% - 34.17%

Using AGIs to boost rent past landlords were able to almost double the rent increases for long term tenants from 2010 to 2019; 34.17% instead of 17.9%. The people who really got hit were the ones who moved in mid-way through all this and are paying one or two of these extra increases on top of near market value rents.