Ontario: 2012 RENT INCREASE GUIDELINE: 3.1%

[NorthernAlex]

Not sure, if this was already posted, but the 2012 Rent Increase Guideline for Ontario is public.



Ontario`s annual Rent Increase Guideline is based on the Ontario Consumer Price Index (CPI), which is a measure of inflation calculated monthly by Statistics Canada. The rate of allowable rent increases for 2012 will be 3.1 per cent.



http://www.ltb.gov.on.ca/en/Key_Information/274235.html

 

[invst4profit]

As expected but not enough for many landlords to cover increased costs over the past year in Ontario.

 

[NorthernAlex]

I agree. Most leases here in my town are all inclusive. I am happy that I could switch some to pay their own hydro. 2 Bed Room Saunas are quite common, if you don't have to pay for it... :-(



We will soon pay MUCH more hydro, because of night/day hydro rates. Day rates will double, night rates will be the current rate...



All landlords should have all expenses in Excel (or a prof. software) and increase above Guidelines, where applicable.

 

[JoeRagona]

Bottom line is, it's better than 0.7% and 2.1% even two years ago. With the control in place, let's be happy it went up THIS much.

 

[housingrental]

I second Joey's post

It could be worse

Time to be thankful

 

[invst4profit]

I am happy that it's better than the past two years screwings but it's still not enough....A kick in the head does not making up for two kicks in the neither region.



Hopefully when the conservatives get elected this fall we can work on changing the climate for small business in this province. Starting with the RTA and LTB.

 

[Thomas Beyer]

[quote user=invst4profit]Hopefully when the conservatives get elected this fall we can work on changing the climate for small business in this province. Starting with the RTA and LTB.


.. and follow up with ENERGY .. the "green" initiatives create thousands of jobs while killing TENS of thousands due to very high energy prices !! One of competitive advantages Ontario used to have over Europe or even E-USA was low energy costs. That advantage has been seriously eroded .. and is killing many many jobs in this fine Canadian province !

 

[Nir]

[quote user=NorthernAlex] rate of allowable rent increases for 2012 will be 3.1 per cent.




Hi All,



Just wanted to recommend if you haven't already increased rents in Ontario this year, don't increase them later this year but rather wait till January 2012 (or Feb. 2012 so we don't look too mean



Your profit is expected to be higher this way.



Regards,

Nir

 

[invst4profit]

[quote user=Thomas Beyer][quote user=invest4profit]Hopefully when the conservatives get elected this fall we can work on changing the climate for small business in this province. Starting with the RTA and LTB.


.. and follow up with ENERGY .. the "green" initiatives create thousands of jobs while killing TENS of thousands due to very high energy prices !! One of competitive advantages Ontario used to have over Europe or even E-USA was low energy costs. That advantage has been seriously eroded .. and is killing many many jobs in this fine Canadian province !




Green may create different jobs but the bottom line is it will cost every consumer more money. Realistically doing the "right" thing is the wrong thing for the pocket book and those on fixed incomes will feel it the most.

Solar energy is a perfect example of this point. Solar energy is more costly than any other form of existing energy source, oil included, at this time and until we can be in a position to not have to subsidize the production of solar on our hydro bills it should not be encouraged.



Personal I will support any green initiative or product that does not cost more than the existing comparable. Until then green can remain the domain of ideologists and tree huggers.