The province announced the rent increase directive on Wednesday for 2023, which will apply to rent increases that run from January 1st to December 31st next year. Home Affairs and Home Affairs Minister Steve Clark says the government is seeking to provide stability by putting inflation under the guise as families face rising living costs. The county says the rate applies to the majority of households renting, but does not apply to units occupied for the first time since November 15, 2018, vacant units, community housing, long-term care homes or commercial real estate. Landlords can also set higher rents with the approval of the county Landlord and Tenant Council. New Democrat interim leader Peter Tabuns says the 2.5 percent ceiling is still higher than the annual wage increases of many tenants, and such increases will hurt people across Ontario. The Morning and Afternoon Newsletters are compiled by Globe editors, giving you a brief overview of the day’s most important headlines. Register today.
