The 2018 rent increase guideline has been set to 1.8%, and it applies to most private residential rental accommodation covered by the Residential Tenancies Act. The guideline is the most that a landlord can increase the rent, without applying to the LTB.
The guideline is not applicable to; Vacant residential units, Social housing units, Nursing homes or Commercial properties.
Changes effective as of April 20, 2017;
Removal of 1991 Exemption
• Rent control will be expanded to all private rental units in Ontario, including those built after 1991.
• Rent increases can only rise at the annual provincial rent increase guideline, capped at a maximum of 2.5%.
• Landlords can still apply vacancy decontrol and re-set rent to the market rate at unit turnover.
• Landlords can still seek above guideline increases (AGIs) where permitted under the current RTA rules.
Marcin Zalewski
President/CEO
Lease Our House Inc.
info@leaseourhouse.com
Landlord Newsletter