I get it that those who own rental properties want to be rich and make as much MONEY off their property as they can, but when a landlord is legally permitted to charge a person 3/4 of their entire monthly income (if not more) just to have a roof over their head, then that creates a HUGE social problem and contributes to homelessness, poverty, and eventually leads people to crime. I hope that the NDP will legislate maximum amounts a person can rent their property for, and that we do get the 2% dropped off the annual rent increase.
I understand where you are coming from and get it. However the only way you can legislate rent controls like that is with government owned housing. (read taxpayer subsidized) if the private rental stock is threatened then the ones that can will convert to condos and get out. The ones that cant convert will sell and take their capital to other jurisdictions. What you will also get is no improvements, buildings will be run down and become slums. There has to be a reasonable rate of return to make it worthwhile. Its a business not a charity.
The only way to get a handle on rents is to get to a 3-4% vacancy rate, then buildings have to compete with each other. Gotta build more rental stock and thats going to mean tax incentives to do it