The Ontario rent increase guideline for 2019 is 1.8%.
The figure represents the maximum a landlord can increase rent throughout 2019 without applying to the Landlord and Tenant Board for an above-guideline increase.
The 1.8% figure is the same as the 2018 guideline, with one important distinction: this year’s guideline applies to virtually all private rental properties. The previous exemption for properties built after 1991 has been eliminated.
Generally, rent can be increased 12 months after a tenant moves in, or 12 months after the last rent increase.
Tenants must be provided written notice at least 90 days before the rent increase can take effect. The notice must comply with the rules of the Landlord and Tenant Board.
When calculating rent, it is important not to round up if that amount would bring the rent increase over the guideline figure.
Ontario landlords have the right to apply for an above-guideline increase for the following situations:
Municipal taxes have increased by more than the guideline plus 50% — 2.7% or more under the current guideline;
The landlord incurred operating costs related to security services; or,
The landlord incurred eligible capital expenditures.
For more information including forms, visit Landlord and Tenant Board.
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 is 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.