A buyer is purchasing a ten-unit building that was completed and first occupied for residential purposes in 2021. A tenant who moved in during 2023 pays $2,000 a month. What limits the landlord's next rent increase for that tenant?
Correct Answer
D) No guideline cap, but 90 days' written notice and the 12-month rule
Section 6.1(2) exempts units in a building no part of which was occupied for residential purposes on or before November 15, 2018 from the guideline (s. 120) and related rent-increase sections. It does not exempt s. 116 (90 days' written notice) or s. 119 (12 months since the last increase), so those still apply.
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Previous Question
A buyer is purchasing a fourplex and wants to move into one of the tenanted units herself. She asks the seller to give that tenant a notice on her behalf because the purchaser requires the unit for her own use. What does the Residential Tenancies Act, 2006 allow?
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A buyer lives in a proposed condominium unit under interim occupancy for 10 months before the declaration is registered. Her monthly occupancy fee includes an $80 projected reserve fund contribution. How much must the declarant hold in trust and remit to the corporation on registration?