The 2013 rent increase guideline for Manitoba landlords is 1 per cent.
Manitoba’s Residential Tenancies Act requires that tenants must be given proper written notice at least three months before a rent increase is to take effect. A notice to increase rent must meet the requirements of RTA. Rent increase forms are available from the Residential Tenancies Branch.
In most circumstances, rents can only be increased once a year. The guideline applies to rented residential apartments, single rooms, houses and duplexes.
There are some exceptions to the guideline, including:
Premises renting for $1,140.00 or more per month as of Dec. 31, 2012;
Personal care homes;
Approved rehabilitated rental units;
New buildings less than 15 years old where an occupancy permit was first issued or a unit was first occupied after April 9, 2001; and
New buildings less than 20 years old where an occupancy permit was first issued or a unit was first occupied after March 7, 2005.
Tenants can object to any increase in rent regardless of whether it is at, below or above the guideline. Landlords can apply for a larger increase if they can demonstrate that the guideline amount will not cover cost increases they have incurred.
The guideline is determined by the Economic Adjustment Factor. The factor for 2013 is 0.5%. The Economic Adjustment Factor helps to offset the costs of inflation.
This post is provided by Tenant Verification Service, Inc., helping landlords reduce the risks of renting with fraud prevention tools that include Tenant Screening, Tenant Background Checks, (U.S. and Canada), as well as Criminal Background Checks, and Eviction Reports (U.S. only).
Click Here to Receive Landlord Credit Reports.
Disclaimer: The information provided in this post in not intended to be construed as legal advice, nor should it be considered a substitute for obtaining individual legal counsel or consulting your local, state, federal or provincial tenancy laws.