So, if you are lucky enough to live in the same apartment or flat for almost four years, your rent (from now on) can only increase by 1.2 percent – the current rent increase directive for 2022. That is about to change, the provincial government announced on Wednesday, when the rent increase ceiling more than doubled early next year to 2.5%. But hey, it could have been worse: According to the Ford government, the ceiling would have been set at 5.3% in 2023 if they had followed the rate of inflation. “The Ontario rent increase guideline for 2023 is 2.5 percent, below current inflation rates. The rent increase guideline is the maximum amount a landlord can increase in rent during the year. for most tenants without the approval of the Landlords and Tenants Council, “said a press release issued by the province today. “The guideline is based on the Ontario Consumer Price Index, a measure of inflation calculated monthly by Statistics Canada using data reflecting last year’s economic conditions. Due to recent inflation, this would result in a guideline for in 2023 5.3 percent, however The guideline is limited to help protect tenants from significant rent increases. How well-intentioned. The publication clarifies that this increase ceiling will only apply to the approximately 1.4 million rental households covered by the Housing Leasing Act. “It does not apply to rental units occupied for the first time after November 15, 2018, vacant residences, community residences, long-term care residences or commercial real estate”, the announcement states. “Rental increases are not automatic or mandatory. Landlords can only increase rent if they have given tenants written notice of at least 90 days using the correct form. In addition, at least 12 months must have passed from the first day of the lease or “Last rental increase. If a tenant believes they have received an inappropriate rent increase, they can apply to the Landlords and Tenants Council for a correction.” Those in units that are not covered by the often criticized Ontario rental guidelines are not covered by these rules at all, so play well with your landlord if you live in a newer building and consider how long a place is used as a rental property before moving. . The new constructions may be nice, but they do not have the same protections as a house that was first inhabited before 2018. If you can really consider them protective.
