Earlier this year we wrote about the rent increase guidelines for 2022, which lists the current allowable amount a landlord can increase their tenants’ rent by 1.2 per cent.
On June 29, 2022, the Government of Ontario stated the rent increase guideline for 2023 will be 2.5 per cent, noting this rate is below that of inflation. The last time a rent increase guideline was 2.5 per cent was in 2013. Continue reading “Rent Increase Guideline for 2023”
The province set the rent increase guideline at 1.2 per cent as of January 1, 2022. The rent increase guideline is determined by the Ontario Consumer Price Index, which measures inflation calculated by Statistics Canada using information reflected on economic conditions during the year. This year’s guideline increase is lower than 2020’s 2.2 per cent increase and comes after a year‑long rent freeze in 2021 in response to the pandemic. Continue reading “Rent Increase Guideline as of January 1, 2022”
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