Ontario’s 2022 Rent Increase Guideline
June 16, 2021
Based on the Ontario Consumer Price Index (CPI), the guideline on rent increases for 2022 in Ontario is 1.2 per cent. The CPI is a measure of inflation calculated monthly by Statistics Canada using data that reflects economic conditions over the past year.
Refer to this link for details:
https://news.ontario.ca/en/bulletin/1000340/ontarios-2022-rent-increase-guideline
I thought Ontario would have been more prudent and extend the rent freeze for another year or so. We are not out of the woods yet; any economist would tell you that it takes time to come out of the economic impact of Covid lockdowns. The economic activities are not still what it used to be and logic dictates that Ontario should wait until we get out of these challenging times before allowing rent increases. In fact, nobody knows when we are getting out of this situation as the pandemic is evolving through phases.