Newly released data from Ontario's Landlord and Tenant Board (LTB) shows that 20 corporate landlords filed the majority of applications to raise rents above provincial guidelines throughout most of 2022, according to a new report from CBC News.

The data reveals that the group of corporate landlords filed over 50 per cent of the 470 applications for above guideline rent increases (AGIs), with five companies — namely Starlight Investments, Realstar Corporation, British Columbia Investment Management Corporation (BCIMC), Homestead Land Holdings Limited, and Hazelview Properties — filing over a quarter of the applications. 

The broader picture is that people of all income ranges need homes where they work for healthy well-serviced communities. Pricing people out reduces the labour pool and services fall. Low paying jobs will go unfilled. Greed hurts us all in the end.

— Andrea Grebenc (@AndreaGrebenc) April 17, 2024

According to the CBC analysis, Starlight Investments, which oversees 54,000 residential units across the country, filed a staggering 46 applications, which could affect approximately 6,000 units.  

Reactions to the report were mixed, with some not being too surprised by the discovery while others called out the corporate landlords for being "greedy." 

But we aren’t surprised, are we?

— Lynda Hurley (@lyndahurley48) April 17, 2024

The report included each AGI filed to the LTB between January and August 2022 and was obtained through an access to information request, which was originally shared by the Association of Community Organizations for Reform Now (ACORN). 

Each year, the Ontario government announces the province's rent increase guideline for the following year. The rent increase guideline in Ontario for 2024 is 2.5 per cent. 

However, under the Residential Tenancies Act, 2006, a landlord can apply to the LTB for a rent increase that is above the guideline for three reasons. 

Of course. And the small landlord has to wait months and lose thousands because of non-paying tenants! 😡

— m42ra-63 🏴‍☠️ (@M42ra6) April 17, 2024

One, the landlord's cost for municipal taxes and charges have increased by an "extraordinary" amount, two, the landlord did extraordinary or significant renovations, repairs, replacements, or new additions to the building or to individual units. 

Or three, the landlord's cost for security services increased, or the landlord began providing security services for the first time. 

Nobody is suprised by this. Greed.

— L3tsG02024 (@L3tsG02024) April 17, 2024

All rental units built after Nov. 15, 2018, are not subject to provincial rent control. 

In separate statements to CBC News, the companies named in the report "emphasized their commitments to their tenants," and said that they only file AGIs for essential projects, including balcony and building repairs. 

Three of the corporate landlords, namely Starlight, Realstar, and Hazelview, told CBC News that they only file AGIs for "allowable expenses" under the province's Residential Tenancies Act.