How Much Can I Raise the Rent (Property Built in 2013)
-
- Posts: 1
- Joined: February 8th, 2014, 11:06 pm
How Much Can I Raise the Rent (Property Built in 2013)
Excellent forum and thank you for all the good advice and posts here.
I bought a townhouse property which was newly built in 2013 and rented since Spring 2013.
My taxes are higher than expected and when I first took possession from the builder I forgot there was a fee for the road which is considered un-assumed and I have to pay a pretty big monthly fee to the builder to maintain it.
I currently rent the property for $1600/month and would like to raise the rent to take account for my increased costs.
I read that the 2014 rent increase is only 0.8% (http://ontariolandlords.org/blog/ontari ... line-2014/)
0.8% won't cover my costs and I think I might be exempt from the because the property is only a year old. Can someone with experience explain how this works because I want to make sure I do it right.
I bought a townhouse property which was newly built in 2013 and rented since Spring 2013.
My taxes are higher than expected and when I first took possession from the builder I forgot there was a fee for the road which is considered un-assumed and I have to pay a pretty big monthly fee to the builder to maintain it.
I currently rent the property for $1600/month and would like to raise the rent to take account for my increased costs.
I read that the 2014 rent increase is only 0.8% (http://ontariolandlords.org/blog/ontari ... line-2014/)
0.8% won't cover my costs and I think I might be exempt from the because the property is only a year old. Can someone with experience explain how this works because I want to make sure I do it right.
- Ash
- Posts: 169
- Joined: November 4th, 2013, 10:53 pm
Re: How Much Can I Raise the Rent (Property Built in 2013)
You must be logged in to read the additional posts in this topic
Who is online
In total there are 72 users online :: 2 registered, 0 hidden and 70 guests (based on users active over the past 999 minutes)
Most users ever online was 11001 on October 2nd, 2024, 4:39 pm
Users browsing this forum: Bing [Bot], Google [Bot] and 70 guests