The 2013 Rent Increase Guideline will be 2.5%

Lee · **Posted:** June 22nd, 2012, 12:03 pm

It would have been 2.6%, except they passed that new law last week.

Quote:

Rent increases for the one million tenant households in Ontario cannot exceed 2.5 per cent over the next year, unless a landlord makes a successful application to the Landlord Tenant Board.

The McGuinty government passed legislation on June 13, 2012 to amend the Residential Tenancies Act, 2006 to ensure that the Rent Increase Guideline is capped at 2.5 per cent. Without the cap, the guideline would have been 2.6 per cent in 2013.

The annual Rent Increase Guideline continues to be based on Ontario's Consumer Price Index (CPI), which is a measure of inflation calculated monthly by Statistics Canada.

The 2013 guideline applies to rent increases between January 1 and December 31, 2013.

http://news.ontario.ca/mah/en/2012/06/2 ... eline.html

thebobert · **Joined:** May 30th, 2011, 9:06 am **Posts:** 52

Wow...that is a whole $1 on $1000 of rent you saved me...thanks Minister Wynne...NEXT month I'll be able to buy a medium coffee at Tim Horton's. This just proves that the change was unnecessary and reactionary.

Steves · **Posted:** June 22nd, 2012, 1:10 pm

thebobert wrote:

Wow...that is a whole $1 on $1000 of rent you saved me...thanks Minister Wynne...NEXT month I'll be able to buy a medium coffee at Tim Horton's. This just proves that the change was unnecessary and reactionary.

Isn't this purely political? Liberals have lost support outside Toronto/Ottawa and are scared of the NDP taking tenant votes in TO ridings?

I wish the Libs would do like McGuinty said yesterday, talking of 'veering right.' Giving more say to communities against those ghastly windmills and fix the LTB (just make it more efficient...so we can get Hearings for non-payment fast) would go a long way.

Skitter · **Joined:** August 8th, 2009, 1:55 pm **Posts:** 6757

-once again the allowable rent increase isnt even keeping pace with inflation.

This means that rents will continue to fall behind real rising costs and landlords wont have the money to properly maintain their rentals.

This inequity will be cumulative and will ensure the private sector will not invest in affordable hosuing in ontario.

Nice work Mcguinty, you have amazing insight!

Jeffinhamilton · **Joined:** July 31st, 2011, 6:54 pm **Posts:** 185

The guideline they use doesn't really take into account the cost increases we face. And we'll never fully recover from the HST tax grab.

Steves · **Posted:** June 25th, 2012, 7:47 pm

Right.

They try to make it look formal and official by saying it's from Statistics Canada.

Where's the costs of power in that CPI?

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The 2013 Rent Increase Guideline will be 2.5%

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