How Much Can I Raise the Rent (Property Built in 2013)

[Condoinvest]

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.

[Ash]

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