Intertenancy Rent Decontrol in Ontario
Intertenancy rent decontrol (referred to in Ontario as vacancy decontrol) forms the headstone of the Ontario rent-control system. The transition from a relatively rigid rent-control regime to intertenancy decontrol created distortions in the rental market, the most significant being the creation of a two-tier rent system with rent on decontrolled units above the rent that would have existed in the absence of controls. As an intertenancy system matures, maturation diminishes these distortions and recontrol provisions provide protection for long duration tenants. Alternative options for terminating intertenancy decontrol while retaining rent control all entail significant economic costs compared to the mature decontrol regime presently in Ontario.
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Volume (Year): 29 (2003)
Issue (Month): 2 (June)
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References listed on IDEAS
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- Rosen, Kenneth T & Smith, Lawrence B, 1983. "The Price-Adjustment Process for Rental Housing and the Natural Vacancy Rate," American Economic Review, American Economic Association, vol. 73(4), pages 779-86, September.
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- Richard Arnott, 1995. "Time for Revisionism on Rent Control?," Journal of Economic Perspectives, American Economic Association, vol. 9(1), pages 99-120, Winter.
- Smith, Lawrence B, 1974. "A Note on the Price Adjustment Mechanism for Rental Housing," American Economic Review, American Economic Association, vol. 64(3), pages 478-81, June.
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