Divisional Court ruled CARPREIT should have removed AGI increase after 10 years.
One of Canada’s largest landlords has lost its appeal against a group of Toronto tenants who said they were overcharged rent since 2023 to pay for upgrades to the building.
According to a Divisional Court decision released last week, CAPREIT (Canadian Apartment Properties Real Estate Investment Trust) and residents in a 427-unit building at 100 Wellesley St. E agreed at the Landlord and Tenant Board (LTB) to rent increases to last for 10 years to cover capital expenditures, starting in 2013.
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