Annual Rent Increase for 2014

Annual Rent Increase for 2014

Postby CLS » Thu Aug 01, 2013 5:35 pm

The Ontario Ministry of Municipal Affairs and Housing has announced that the 2014 rent increase will be 0.8%. This is the smallest rent increase since 1975. The rent increase guideline is the maximum amount by which a landlord can increase the rent of an existing tenant without seeking the approval of the Landlord and Tenant Board.

The rent increase guideline applies to most private residential 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; or commercial property.

The increase applies to rent increases during the period of January 1-December 31, 2014.
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