We have a cost-of-living crisis, and housing is a big part of it. Rents are becoming unaffordable, especially in cities like Toronto.

The Rent Stabilization Act amends the Residential Tenancies Act to end vacancy decontrol, a mechanism that allows rents to be raised with no limit when a unit is vacated, which is being used to unfairly evict tenants and drive rents skyrocketing.

The bill also requires the Landlord and Tenant Board to create and maintain a rent registry so tenants can be confident in knowing that they are not being gouged on rent. This bill will stabilize rents and end the incentive for unfair evictions by ensuring new tenants pay what the last tenant paid.

Ms. Bell moved first reading of the following bill:

Bill Pr6, An Act to revive Nextblock Inc.