Thank you for your question. There is a lot to unpack there.
What I would say first off is that the majority of renters in Ontario live in rent-controlled units, so their rent increases are governed, of course, by the annual rent guideline increase, which for the last few years has been subject to a cap brought in by the previous government of 2.5%, far below all the cost increases that rental housing providers have been facing.
When you look at Ontario, certainly a significant percentage of the market is smaller landlords who are renting out basements, single-family homes, and that's a big part of the industry.
However, what you're talking about I think relates to what is part of the rent control system in Ontario, and that is a provision that allows for rental housing providers to apply for above-guideline increases in cases where there are significant capital investments required in older buildings. As I said, the vast majority of our rental stock is quite old, and it is at a point in time now where it needs significant capital investment to bring buildings up to today's standards in all kinds of ways. Their carbon footprint needs to be improved. All kinds of major work is needed that cannot be paid for through the rent control system that we have. There is simply not the opportunity to be able to get the rent that is necessary to pay—