Two sisters were shocked when a Toronto landlord raised their rent by $7,000 per month.

The landlord had told them he wanted to raise the rent to $3,500 and when they complained he decided to raise it to $9,500.

“We know that our building is not rent controlled and this was something we were always worried about happening and there is no way we can afford $9,500 per month," Yumna Farooq said.

  • MolochAlter
    1•1 year ago

    Since we’re throwing numbers around, give me your best guess as to the cost of building an apartment block, per unit. Ignore the cost of land for now.

    I’m curious to see if you’re going to notice a problem with your logic or not.

    • @uis@lemmy.world
      1•1 year ago

      Abooout 50-150k₽/m² of unit area or 0.5-1.5k$ depending on local labour cost, cost of materials in that area, building height and other stuff.

      EDIT: found mention that Yaroslavl Department of Building says it costs 48k₽/m² of some area(need to look in source). If it is cost of buiding entire building per total area(roof in not added), then per unit it would be around 58k₽/m² of unit. To buy unit after being built it would be around 150-500₽/m².