The Ford government has announced their plans to bring forward legislation to freeze rent in Ontario at the 2020 levels. The Ontario government sets out a yearly guideline for the maximum amount a landlord can increase rent to reflect inflation levels. These guidelines do not apply to residential units that were first occupied after November 15, 2018. Also exempt from these guidelines are nursing homes, social housing units, and commercial properties. The 2021 rent increase would have been capped at a 1.5% increase without the proposed government rent freeze.
To read more about the Ontario rent increase guideline, see the government website.