Lowest rent guideline in 35yrs
June 22, 2010 9:00 AM
McGuinty Government Protects Tenants From Excessive Rent Increases
Ontario’s rent increase guideline for the year 2011 will be 0.7 per cent, the lowest guideline in the 35-year history of rent regulation in Ontario.
The rent increase guideline is the maximum amount by which a landlord can increase the rent of most sitting tenants without seeking the approval of the Landlord and Tenant Board.
The 2011 guideline applies to rent increases that occur between January 1 and December 31, 2011.
The calculation is based on the Ontario Consumer Price Index, a measure of inflation that is calculated by Statistics Canada.
QUICK FACTS
- The 2011 guideline is calculated under the Residential Tenancies Act, which came into force on January 31, 2007.
- The current 2010 guideline is 2.1 per cent.
