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Archive for the ‘2015 Rent Increase Guideline’ Category

The Annual Rent Increase Guideline for 2015 has been set at 1.6% by the Ontario government.

Based on this guideline the maximum amount a landlord can increase a tenant’s rent between January 1 – December 31, 2015 is 1.6%. This increase will apply mostly to sitting tenants who face rent increases during that period.

Complete information about the 2015 Rent increase Guideline is available at the Municipal Affairs and Housing website:  http://news.ontario.ca/mah/en/2014/06/ontarios-2015-rent-increase-guideline-set-at-15-per-cent.html

It should be noted that this increase is double the increase of 0.8% permitted in 2014. The Annual Rent Increase allowed is directly related to the rate of inflation. The calculation is based on data provided by Statistics Canada which creates the Ontario Consumer Price Index. Refer to:  http://www.statcan.gc.ca/tables-tableaux/sum-som/l01/cst01/cpis01g-eng.htm

With regard to Above Guideline increase tenants should note that landlords can only increase rents above the 1.6% guideline by filing an application with the Landlord and Tenant Board.  For full details on how a landlord can raise rent above this 2015 guideline please refer to: http://www.sjto.gov.on.ca/documents/ltb/Brochures/Information%20about%20AGI%20Applications%20(EN)%20Revised_Bill140_June15_2015.pdf?b58864

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