Residential Tenancies: Increasing Rent & Building Value while Recouping Capital Investments
It is not uncommon for buildings to contain long term tenants paying “below market” rent. Cohen Highley has had extensive success at the Landlord & Tenant Board in structuring building rehabilitation scenarios in which
- Capital investment is made to the building & units is made to the building & units
- The Landlord can apply to increase the rent by up to 9% on those below market units
Cohen Highley can help landlords stickhandle through the legal process while ensuring regulatory compliance with maintenance & repair obligations; avoidance of risk of rent abatements while work is underway; & achievable increases in revenue for long term recovery of capital investment & immediate increases in Net Operating Income.
Cohen Highley has a proven track record for successfully implementing rehabilitation & redevelopment scenarios for Ontarion multi-res properties despite Ontario having some of the most restrictive rent control regimes in North America.