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HOW MUCH CAN ONTARIO LANDLORDS RAISE THE RENT IN 2022? ONLY 1.2%
According to the guideline Ontario landlords can only raise the rent by is 1.2 per cent in 2022
Did you know the Ontario government caps how much private Ontario landlords can raise the rent each year?
But It’s My Private Property, How Can That Be True?
Yes, it’s true.
It’s your property that you paid for, that is yours but you are not free to raise rents on your tenants without government interference.
The rent increase guideline is the maximum most landlords can raise a tenant’s rent without the approval of the Landlord and Tenant Board (LTB). It is applicable to most rent increases between January 1 and December 31, 2022.
Alert For Small Ontario Landlords: The Increase Is Not Automatic
Rent increases are not automatic or mandatory. Landlords may only raise rent if they gave tenants at least 90 days written notice using the correct form. In most cases, the rent increase cannot be more than the rent increase guideline.
In addition, at least 12 months must have passed since the first day of the tenancy or the last rent increase. If a tenant believes they have received an improper rent increase, they may dispute it at the LTB within 12 months.
What Does the OLA Say About This?
Our most experienced and successful Ontario Landlord Association Members have been clear about this for over a decade.
With low annual rent increase rules, it’s important that Ontario landlords make sure they raise the rent each year according to the guideline.
We also want the government to allow landlords and tenants to freely negotiate rents between leases without government interference (and get rid of government “allowable rent increases” that are far below inflation and our costs.)
Read more at:
https://ontariolandlords.org/blog/the-o ... 22-is-1-2/
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