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Friday, June 20, 2014
Rental Increase in Ontario 2014
TORONTO -- The Ontario government is capping next year's rent increases at 1.6 per cent.
cap, also known as the rent increase guideline, is the maximum a
landlord can raise a tenant's rent without the approval of the Landlord
and Tenant Board.
It applies to rent increases between Jan. 1 and Dec. 31, 2015.
The guideline is based on the Ontario Consumer Price Index, a measure of inflation calculated monthly by Statistics Canada.
2014 rent increase guideline was just 0.8 per cent -- the second-lowest
cap since rent regulation was brought in almost 40 years ago.
guideline covers about 85 per cent of private residential units in
Ontario and applies only to buildings built before November 1991.