Rent increases for 2012 will be 3.1% in Ontario
Ontario annual Rent Increase Guideline is based on the Ontario Consumer Price Index (CPI), which is a measure of inflation calculated monthly by Statistics Canada.
The guideline is the maximum amount that most landlords can increase a tenant rent during the year without making an application to the Landlord and Tenant Board.
The 2012 guideline applies to rent increases between January 1 and December 31, 2012.
The Ontario government states the average yearly increase from 2004-2011 was 1.89 per cent. The average yearly increase from 1993 “ 2003 was 3.17 per cent.
The 2012 guideline is calculated under the Residential Tenancies Act, 2006, and the calculation is based on the Ontario Consumer Price Index
Navtaj Chandhoke is a veteran Canadian Real Estate investor, Master Coach/Mentor/Speaker & Canadian hard money lender . Join now Canadian REI Club membership to attend upcoming No $$ Down Canadian Real Estate Seminar LIVE in Canada and become next Canadian Real Estate Apprentice
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