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Rent regulation in Canada is a set of laws and policies which control the amount by which rental prices for real property can increase year to year. Each province and territory can pass legislation, where the purpose is to limit rent prices increasing beyond what is affordable for most home dwellers.
Rent regulation was first briefly introduced in Ontario under the National Housing Act 1944.After lobbying by business it was repealed in under a decade. The modern history of rent controls began in July 1975 when the Residential Premises Rent Review Act 1975 was enacted after the demand for rent controls became a major issue in the period leading to the 1975 provincial election. [2]
From 2003 to 2018, Canada saw an increase in home and property prices of up to 337% in some cities. [2] In 2016, the OECD warned that Canada's financial stability was at risk due to elevated housing prices, investment and household debt. [3] By 2018, home-owning costs were above 1990 levels when Canada saw its last housing bubble burst. [4]
Canadian property law, or property law in Canada, is the body of law concerning the rights of individuals over land, objects, and expression within Canada. It encompasses personal property , real property , and intellectual property .
Typical scene of people moving in the Quebec City borough of Limoilou, on July 1, 2007.. Moving Day (French: jour du déménagement) is a tradition, but not a legal requirement, in the province of Quebec, Canada, dating from the time when the province used to mandate fixed terms for leases of rental properties.
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