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Residential Rent Increases in Ontario

If you’re a landlord and trying to get the max out of your rentals, you are most likely aware that there are strict rules around increasing the rent for your existing tenants. You are generally limited to an annual increase based on the Ontario rent increase guidelines. For 2020 that max. increase is set at 2.2%. The complete list can be found here: https://www.ontario.ca/page/residential-rent-increases

For 2021, most residential rents may not be increased at all, due to the covid related Government of Ontario Rent Freeze. Some exceptions apply and you can find all that information on the Ontario website.

One detail, that is often overlooked, is the 2019 Rent Control Change. This amendment relieves most newly built rental units from rent control, meaning you can increase the rent based on your preference. This allows the landlord to more easily catch up to market rates. The rule applies to residential units first occupied after November 15, 2018. Read on the LTB website for more details: https://tribunalsontario.ca/ltb-september-14-2018changes-to-rules-of-procedure-and-guidelines-for-review-and-comment-2-3-2/