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)

File#	Item	Lifetime	Value
SOL-26605	Common Area Renovations	10 years	157,983.00
	Stairwell Painting	10 years	7,959.00
	Elevator Cab Modernization	15 years	51,261.00
	Toilet Replacement	15 years	27,859.65
	Roof Replacement	15 years	68,964.00
	Signage	15 years	18,507.79
SOL-40297-13	Fire System Repair	15 years	90,145.76
	Roof Safety Anchors	20 years	16,249.63
	Building Exterior & Balcony Repair Painting the building exterior	13 years	662,278.35
	Common Area Painting	10 years	32,063.75
	Replace Exhaust Fans	20 years	2,556.63
	Garage Entrance Repair	20 years	12,725.63
	Exterior Painting	10 years	2,648.72
	Drain Repair	20 years	1,130.00
	Building Signage	15 years	6,633.14
SOL-67472-16	Boiler System Replacement	15 years	255,278.30
SOL-80883-17	Parking Garage Repairs	15 years	1,178,160.61
	Common Area	10 years	5,537.00
	Roof Replacement	15 years	156,000.00
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)

File#	Starting	Lifetime	Expires	Increase
SOL-26605	2010-07-01	13 years	2023-07-01	0.5% - 2.00%
SOL-40297-13	2013-12-01	13 years	2026-12-01	4.76% - 5.62%
SOL-67472-16	2016-05-01	15 years	2031-05-01	1.25%
SOL-80883-17	2017-07-01	15 years	2032-07-01	7.4%
Total				13.91% - 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:

Year	Forward	Guideline	SOL-26605	SOL-40297-13	SOL-67472-16	SOL-80883-17	Total
2010	0	2.1%	0.5% - 2.0%				2.6% - 4.1%
2011	2.6% - 4.1%	0.7%					3.3% - 4.8%
2012	3.3% - 4.8%	3.1%					6.4% - 7.9%
2013	6.4% - 7.9%	2.5%		3%			11.9% - 13.4%
2014	11.9% - 13.4%	0.8%		1.76%-2.62%			14.46% - 16.82%
2015	14.46% - 16.82%	1.6%					16.06% - 18.42%
2016	16.06% - 18.42%	2.0%			1.25%		19.31% - 21.67%
2017	19.31% - 21.67%	1.5%				2.5%	23.31% - 25.67%
2018	23.31% - 25.67%	1.8%				2.5%	27.61% - 29.97%
2019	27.61% - 29.97%	1.8%				2.4%	31.81% - 34.17%
Rent increases due to AGIs
2019	Expected	17.9%	Actual				31.81% - 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.