- Joined
- Jul 30, 2011
- Messages
- 77
As a new landlord/owner of a property I just bought in Ontario and when getting an existing tenant to enter into a new lease agreement with me, can I set the new rental rate up to a market rent level right away? Or do I have to limit any increase to just the % stated by Landlord & Tenant Board for the year?
The current rent this tenant is paying is about $100 to $150 below market and has been paying this same rate for the past four years. The previous landlord/owner never bothered to increase it.
I'm open to keeping this current tenant or getting a new one.
The current rent this tenant is paying is about $100 to $150 below market and has been paying this same rate for the past four years. The previous landlord/owner never bothered to increase it.
I'm open to keeping this current tenant or getting a new one.