Answers to Questions about Rent from Ontario Landlords Association Members
Ontario’s annual Rent Increase Guideline is released pursuant to the Residential Tenancies Act, 2006 (RTA) – the legislation that governs rental housing in Ontario. We believe this legislation balances the rights and responsibilities of both landlords and tenants.
Ontario’s annual Rent Increase Guideline is based on the Consumer Price Index (CPI) for Ontario – an objective and transparent measure that is calculated by Statistics Canada.
The 2012 Rent Increase Guideline is 3.1%. This guideline applies to a rent increase that begins any time between January 1, 2012 and December 31, 2012 and applies to most residential units in Ontario. However, other provisions of the RTA allow only one rent increase every 12 months, and require at least 90 days advance notice to tenants of a rent increase. (more…)