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July 29, 2011 11:30 AM
Ontario's annual Rent Increase Guideline is based on the Ontario Consumer Price Index (CPI), which is a measure of inflation calculated monthly by Statistics Canada. 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.
The 2012 guideline applies to rent increases between January 1 and December 31, 2012.
The average yearly increase from 2004-2011 was 1.89 per cent. The average yearly increase from 1993 - 2003 was 3.17 per cent.
http://news.ontario.ca/mah/en/2011/07/2 ... ine-1.html
Don't forget long weekend as well. Lots of Govt sick days are taken on Fridays. I'm willing to bet that number shoots up even higher when Monday is a holiday, not too sure how many spokespeople are in the office at MAH today.Landgod wrote:Friday afternoon in the middle of summer. How predictable.
June 22, 2010 was a tuesday2011 Rent Increase Guideline
June 22, 2010 9:00 AM
McGuinty Government Protects Tenants From Excessive Rent Increases
Ontario's rent increase guideline for the year 2011 will be 0.7 per cent, the lowest guideline in the 35-year history of rent regulation in Ontario.
The rent increase guideline is the maximum amount by which a landlord can increase the rent of most sitting tenants without seeking the approval of the Landlord and Tenant Board.
Quite the contrast in the announcement this year. Last year they took personal credit for a set formula that produced the lowest increase because of economic recession, now this year the same formula produces a higher increase and their position is hey it's a set formula we can't do anything about that it's all Ontario Consumer Price Index by Statistics Canada. Hmm HST didn't play a part in the inflation?"The McGuinty government is providing real protection for tenants by linking the rent increase guideline to the Ontario Consumer Price Index, which prevents routine rent increases above the rate of inflation, while ensuring landlords can recover increases in their costs."
– Jim Bradley
Minister of Municipal Affairs and Housing
LOL- nice save.The average yearly increase from 2004-2011 was 1.89 per cent.
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