We are glad to announce that the rent reduction applies.
At the hearing on December 4, 2012, the Landlord and Tenant Board ruled that the rent reduction stays. Tenants can apply a .47% decrease to their rents, instead of the .54% indicated by the City of Toronto.
Therefore, all Minto tenants who received the notice of rent decrease by the City of Toronto, in December 2011, will see their rent decreased by .47% from December 31, 2011. It is retroactive.
The Board ruled that both parties (Minto and Tenants) have 90 days to pay or repay what they owe to each other. This means:
- If you deducted .54% of your rent, you will owe Minto something. (The difference between .54% and .47%).
- If you did not deduct anything, Minto owes you something (the .47% reduction). Please note. You will not receive cash. A credit will be applied to your rent.
The Landlord and Tenant Board will send information to all tenants on this ruling. Minto will also contact tenants on rent adjustments. For verification, refer to the City of Toronto letter on how to calculate this reduction. You can also use this link www.toronto.ca/housing/rent-lower.htm.