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RENT INCREASES....

BREAKRZ

Inspired Forum Member
Registered
Joined
Nov 1, 2016
Messages
57
Just wondering what the rent increase guidelines for Ontario are. I'm aware of the annual allowance of 1.5% (2017) increase 90 day notice however my unit is a townhouse constructed in 2003. I do not believe rent control applies as per below or am I missing some other details...



Who it applies to

The guideline applies to most private residential rental units covered by the Residential Tenancies Act.

The guideline does not apply to:
  • vacant residential units
  • residential units first occupied on or after November 1, 1991
  • social housing units
  • nursing homes
  • commercial properties
 

RELover

Inspired Forum Member
REIN Member
Joined
Apr 29, 2016
Messages
88
Are the new rules in Ontario allowing JUsT 1.5% increase?
 

Thomas Beyer

0
REIN Member
Joined
Aug 30, 2007
Messages
13,881
Unintended consequences: higher rents on vacant units and less construction as 1.5% is far too low to cover cost increases. At least BC uses about 3.5% a year. I am glad we sold our Sudbury asset last year as ON rent control laws are far too tenant friendly and increases far too low.

Vacant units will be rented very very expensively in a low vacancy market like GTA. Existing tenants win, at the expense of everyone else especially new renters.
 
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