February 18th, 2012
Small Private Landlords Are Encouraged to Make Sure Your Voice Is Heard
The Ministry recommends that upon the resumption of the legislature on Tuesday, February 21, 2012 – the OLA and its members visit the Ontario legislature website at www.ontla.on.ca daily to follow the progress of Bill 19.
Should Bill 19 pass Second Reading and be referred to Standing Committee, the Ministry encourages the OLA and its members to take this opportunity to participate in the legislative process by making a submission to or appear before the Standing Committee.
For more information regarding the Standing Committee process please contact the Committees Branch of the legislature at 416-325-3500.
What is Bill 19?
The Government has introduced proposed legislation to change how landlords can increase the rent.
Bill 19 proposes to amend the Residential Tenancies Act (2006) so “that the annual Rent Increase Guideline be capped at two and one-half percent.” It would also ensure that “the guideline would never fall below one percent.”
If passed by the legislature during the Spring 2012 legislative session, the revised formula would be used to calculate the Rent Increase Guideline beginning in 2013.
The proposal would also require that the Ministry review the Rent Increase Guideline formula every four years to determine the effectiveness of the new changes as economic conditions evolve.
Fair? Unfair? Make Your Opinion Known
Bill 19 will in all likelihood be referred to Standing Committee. You can play a role in how policy is shaped by getting your opinions known via submission or showing up in person.
Follow the news about this and other ways our business environment is being shaped in the Ontario Landlord Forums.