Residential Tenancies Act, 2006

And there's 500 and some odd units in that building, which means that emergency vehicles are there with relative frequency.

The way that the landlord-tenant laws enabled the kind of neglect is that The Landlord Tenant Board and the Residential Tenancies Act is set up on the presumption that tenants have choice.

That if your building is unsuitable, you can just take your tenancy dollars elsewhere.

You're a consumer of a product.

We build our communities in our homes.

And economically speaking, there is a penalty to switching apartments.

We don't have vacancy control built into the Residential Tenancies Act.

We don't have it built into the Toronto bylaws.

You know, I can do a little bit extra planning or give a little bit more time to the tenant to find a new place, and I can avoid paying that one-month rent compensation.

Now, the big thing to note with this is there's two statutes in the Residential Tenancies Act that deals with this.

So this is not going to affect us, Tom, when we're dealing with the purchase of a tenanted property.

So the 120 days is, you can use that if you're moving in personally, but a purchaser under an agreement of purchase and sale can't use a longer closing date and avoid that one month penalty.