RENT INCREASES....

[BREAKRZ]

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

 

[Alvaro Sanchez]

The market will dictate the increase in your case.

 

[RELover]

Are the new rules in Ontario allowing JUsT 1.5% increase?

 

[Alvaro Sanchez]

http://www.cbc.ca/news/canada/toronto/rent-byebye-1991-loophole-1.4077446

 

[Thomas Beyer]

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.

 

[Cory Sperle]

I hope Alberta doesn't get any bright ideas