Changes to Above Guideline Rent Increase Applications in 2018
New Laws For Above Guideline Rent Increase for Ontario Landlords
Everyone who owns rentals across Ontario please carefully read this message from the Ministry to us, as they know we can reach landlords all over the province:
Ontario landlord and tenant board 2018
To: Ontario Landlords Association
Above Guideline Rent Increase Application – The Law Is Changing
On January 1, 2018, two changes to the Residential Tenancies Act that relate to the landlord’s Application For a Rent Increase above the Guideline will come into effect
1. A landlord will no longer be able to apply for a rent increase above the guideline because of utility costs (e.g. fuel, electricity or water) have increased.
2. If a landlord has not complied with an order to fix an elevator (issued by the LTB, the municipality or the technical standards and safety authority) the LTB can dismiss the application or require the landlord to fix the elevators before ordering an above the guideline increase.
A landlord can still apply to the LTB for an increase above the guideline if:
The landlord’s costs for municipal taxes and charges have increased significantly The landlord has done major repairs or renovations (these are called capital expenditures)
or, The landlord has operation costs for security services performed by person who are not employees of the landlord.
Changes to the Landlord and Tenant Board Form L5
The Landlord and Tenant Board has updated the L5: Application for an Above Guideline Rent Increase to reflect the changes.
Landlords need to begin using this new form immediately. Make sure you are getting the latest version of the form by clearing your browser cache to avoid any mistakes. The old version of this forum will be accepted until January 30, 2018.
Read more at: http://ontariolandlords.org/blog/change ... s-in-2018/