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.

  • Obi
    2·
    1 year ago

    If you’re “underwater” (your mortgage is higher than the value of the house) then yeah you’re stuck unless you want to pay off that difference. That happened to friends of mine after 2008. If you own the house outright then yeah it matters less.