Archive for the ‘rent increase guideline 2020’ Category

Sunday, September 13th, 2020

Tenants Speak Out & Share Their Concerns & Opinions on the Rental Industry

As part of our “Let’s Improve the Ontario Rental Industry” we have invited tenants to share their opinions on how we can make these improvements.

Most of us used to rent to and we have tried to become the landlords we always wanted to rent from but could never find.

These opinions are from individual contributors and are not the opinions of the Ontario Landlords Association.

We believe by fostering communication between landlords and tenants we can improve the Ontario rental industry in a win-win business relationship.

To contribute your experiences and advice please email us at:  tenantexperiences@groupmail.com (All contributions must be a minimum of 300 words and include your name, contact number, address, a copy of your lease, all which will all be kept private and destroyed upon confirmation.)

The post below has been recommended by the Tenant Community as extremely helpful and important information. 

By Working Together Tenants And Small Landlords Can Get A Better Understanding of the Issues And Improve The Ontario Rental Industry.

Let’s all face issues straight on and work to make the Ontario Rental Industry not only an example for Canada, but for the world!

 

How Much Can Ontario Landlords Raise the Rent in 2020?

Monday, June 17th, 2019

2020 Ontario Rent Increase Guideline Is 2.2%

Every year the government of Ontario announces what is called the “Rent Increase Guideline” for the next calendar year.

The Rent Increase Guideline means how much a landlord can increase the rent without having to go to the Landlord and Tenant Board.

(If the you want to raise the rent higher than the guideline you must get approval by the Board to do so.)

How Much Can An Ontario Landlord Raise the Rent in 2020?

Many small residential landlords are facing challenges and need to increase rents to cover their costs.

Today the Ministry of Municipal Affairs and Housing announced the Rent Increase Guideline for next year.

You can raise the rent 2.2% in 2020

The government says this will help landlords keep up with new expenses.  But many landlords say it is unrealistic and unfair. 

How Did They Come Up With This Figure?

The Ontario annual Rent Increase Guideline is based on the Ontario Consumer Price Index (CPI). This is a a measure of inflation. It’s calculated monthly by Statistics Canada.

The CPI is regarded as an objective, reliable measure of inflation. The CPI charts the change in the price of all goods and services in the provincial economy.

However, many landlords want a new formula that better illustrates our true expenses.

How Do I Raise the Rent For My Existing Tenants?

In most cases, the rent for a unit can be increased if at least 12 months have passed since the tenant first moved in, or since his or her last rent increase. The tenant must be given proper written notice of the rent increase at least 90 days before the increase takes effect.

For more information see the Landlord and Tenant Board Website

To discuss this and other issues go to the Ontario Landlord Forum