What are the re-rental restrictions to a building that have been “Ellised”?

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What are the re-rental restrictions to a building that have been “Ellised”?

If a building is “Ellised” (removed from the rental market), there are vacancy rent control restrictions on re-rental of the units:

Re-Rental Must Be at Same Rent Evicted Tenants Paid: For a period of five years, if the units are re-rented to anyone, the maximum rent which can be charged is the same rent the evicted tenant in that unit was paying, plus any increases which would be otherwise allowed under rent control.

Evicted Tenants Get First Right to Return: The tenant who was evicted has the first right of return at their same rent (plus any increases which would have been allowed under rent control) for a period of five years; evicted tenants get a first right to return for the first ten years, but only at the same rent they were paying for the first five years. Tenants must notify the landlord and the Rent Board if they want to avail themselves of this option within 30 days of displacement.

The re-rental restrictions above are binding on current and future owners. Also, if the building is demolished and units in a newly constructed building are offered for rent within five years of the date of withdrawal, restrictions will apply.