Hope I can get some advice here. Our landlord served us an N2 in order to raise the rent starting in September.

We moved in 1 year ago and the building is not rent controlled. Its a 2 bed 2 bath. I knew going in that this would happen, but I didn’t think it would be this bad.

In the email they mentioned they were willing to negotiate. How much do you think we could negotiate to? We’ve been perfect tenants and have kept the unit in perfect condition.

Edit: forgot to mention we’re in Toronto, Ontario

Edit 2: To everyone saying this is an illegal increase, its not. The building was built in 2021. Does not fall under the guidelines for rent control in Ontario. We were the first tenants that lived in the unit. Moved in before the building was even done. Its a big condo in the west end in Toronto. The landlord can raise the rent by 10x if they wanted to.