Rent Reduction Program
The Residential Tenancies Act (RTA) allows residential tenants to reduce their rents when the rental buildings in which they live have had a property tax decrease between two consecutive years. Municipalities are required to send notices about the tax decrease and rent reduction to landlords of affected buildings by September 15 and to tenants by December 15.
Under the RTA, notices must be sent if the tax decrease is more than 2.49%, and there are more than six rental residential units in a building (i.e., multi-residential rental properties). In 2001, Council adopted a policy that notices must also be sent to buildings with six or fewer units (i.e., residential rental properties), to ensure that tenants in smaller rental buildings have the same opportunity as tenants in multi-unit buildings to automatically reduce their rents.