February 22nd, 2014
Landlords Ask: How Much Can I Raise the Rent for New Condos, Townhouses, Houses and Buildings in 2014?
We informed Ontario landlords about the 2014 rent increase guideline back in June.
Lots of Ontario landlords were unhappy when they read the report and learned the Ontario government set the 2014 Rent Increase Guideline at only 0.8%.
You May Be Exempt From the Ontario Rent Increase Guideline
The annual guideline applies to most rental properties in Ontario.
However, it you need to know it doesn’t cover all of them.
The Residential Tenancies Act has Section 6 (2) which lists where a landlord can raise the rent above the rent increase guideline.
It’s important you look at this carefully.
The Residential Tenancy Act and the rent increase guideline doesn’t apply to landlords if you meet the following criteria:
The provisions of the RTA that deal with the maximum amount by which rents can be increased do not apply with respect to a rental unit if...
Read more at http://ontariolandlords.org/blog/how-mu ... buildings/