Rent increases for 2012 will be 3.1% in Ontario

Rent increases for 2012 will be 3.1% in Ontario

 

Aug 04, 2011 - Rent increases, At long last the Ontario 2012 Rent Increase Guideline has been released on July 29, 2011.
Rent increases This year, the rate of allowable rent increases for 2012 will be 3.1 per cent. The guideline is the maximum amount that most landlords can increase a tenant's rent during the year without making an application to the Landlord and Tenant Board.Rent increases

 

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

 

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