Ontario Government sets 2019 Rent Increase at 1.8%
On July 4, 2018 the Government of Ontario announced that residential rent increases between January 1 and December 31, 2019 will be capped at a maximum of 1.8%.
As in previous years, any increase exceeding that amount must receive approval from the Landlord and Tenant Board.
The annual provincial guideline applies to most rental units that fall under Ontario’s Residential Tenancies Act, but does not include: vacant units, social housing, or nursing homes.
Rentcheck member landlords are reminded that tenants must receive written notice of any rent increase at least 90 days before it takes effect. In most cases, rent can be increased 12 months after the last rent increase, and/or 12 months after a tenant first moves in.
Historically, the annual rent increase guideline is calculated to reflect changes in Ontario’s Consumer Price Index.
During the three decades since this system was initiated to help keep provincial housing costs more affordable, the highest maximum increase of 6.0% occurred in 1992 and the lowest, 0.7%, was in 2011.
This article courtesy of rentcheck.ca
My partner and I were interested in relocating from downtown Toronto to the Dundas area, but we were in no rush to move. We knew that we wouldn’t budge until we found our dream home. Over seven months, Hope helped us to refine our search by showing us a wide variety of homes in different neighbourhoods, from historic stone cottages to mid-century modern bungalows. Hope was just as inquisitive as we were, and she made the process of house-hunting thoroughly enjoyable. When we finally found our new home — a renovated ranch on the Escarpment brow — Hope guided us through the sales process expertly, making us feel confident in our decision. We couldn’t have asked for a better real estate agent!
Hope Terry was exceptionally helpful and supportive. Selling a home you love is not easy and she, with a sense of compassion and grace, helped me understand the details of process. She answered all my questions, provided accurate advise and was honest and efficient in her replies. I would highly recommend her to you. She is sophisticated, intelligent and knows the business. She sold my home in less than a week and helped me negotiate all the details of the sale. Thank you so my Hope — I greatly appreciate your professionalism.