2012 Rent Increase Guideline Announced

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OLA
Posts: 100
Joined: August 14th, 2009, 9:11 pm

2012 Rent Increase Guideline Announced

#1 Unread post by OLA » July 29th, 2011, 12:27 pm

2012 Rent Increase Guideline

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

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Marc
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Joined: May 31st, 2010, 9:20 pm

Re: 2012 Rent Increase Guideline Announced

#2 Unread post by Marc » July 29th, 2011, 12:32 pm

About time it was announced.

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Landgod
Posts: 398
Joined: June 25th, 2011, 4:31 pm

Re: 2012 Rent Increase Guideline Announced

#3 Unread post by Landgod » July 29th, 2011, 1:21 pm

Friday afternoon in the middle of summer. How predictable.
Tenant on this forum: "Make sure you screen carefully so you don't rent to me!"

Ken S

Re: 2012 Rent Increase Guideline Announced

#4 Unread post by Ken S » July 29th, 2011, 1:37 pm

Landgod wrote:Friday afternoon in the middle of summer. How predictable.
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.
2011 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.
June 22, 2010 was a tuesday
"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
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 average yearly increase from 2004-2011 was 1.89 per cent.
LOL- nice save. :roll:

shaer32
Posts: 10
Joined: July 27th, 2011, 9:09 am

Re: 2012 Rent Increase Guideline Announced

#5 Unread post by shaer32 » July 29th, 2011, 1:50 pm

If you have a lease with your tenant, can you legally change the rates as long as you give proper notice?

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