2012 Rent Increase Guideline Announced

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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?

LandlordD
Posts: 766
Joined: July 5th, 2010, 11:54 pm

Re: 2012 Rent Increase Guideline Announced

#6 Unread post by LandlordD » July 29th, 2011, 1:51 pm

Is it just me, or does anyone else think the bureaucrats have spent the past month working with the politicians to write the release and this Friday date was set long ago!
Dave

thebobert
Posts: 54
Joined: May 30th, 2011, 10:06 am

Re: 2012 Rent Increase Guideline Announced

#7 Unread post by thebobert » July 29th, 2011, 3:46 pm

http://www.therecord.com/news/canada/ar ... nge-system

I don't what to say in response to this other than everyone on these forums were right.

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BigFoot
Posts: 1696
Joined: October 16th, 2009, 3:32 pm

Re: 2012 Rent Increase Guideline Announced

#8 Unread post by BigFoot » July 30th, 2011, 11:16 pm

shaer32 wrote:If you have a lease with your tenant, can you legally change the rates as long as you give proper notice?
You can increase the rent, by no more than the legally mandated maximum (2011: 0.7%; 2012: 3.1%) no earlier than every 12 months. It doesn't matter whether or not you have a written lease. It doesn't matter if you just bought the property -- an increase can happen every 12 months, regardless of whether the landlord has changed.

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