A recent bulletin posted by Ontario’s Ministry of Municipal Affairs and Housing, states that;
“Based on the Ontario Consumer Price Index (CPI), the guideline on rent increases for 2022 in Ontario is 1.2%.”
Further stating that;
“The rent increase guideline is the maximum most landlords can raise a tenant’s rent without the approval of the Landlord and Tenant Board (LTB). It is applicable to most rent increases between January 1 and December 31, 2022.”
This guideline does not apply to Rent-Geared-to-Income units, except where tenants are paying market rent.
It’s important to know that to increase rents, landlords must give at least 90 days’ written notice at least 12 months after the first day of tenancy or last rent increase.
The 2021 rent increase freeze will end December 31. Landlords can send a rent increase notice that takes effect in 2022 before the freeze is lifted (i.e., 90 days).
To learn more about the rules for residential rent increases visit Ontario’s website.
To learn more about Landlord and Tenant rights, visit the Landlord and Tenant Board website. A guide to the Residential Tenancies Act is also available and provides valuable information all Landlords and Tenants should know.