Every year the Ontario Government sets the annual guideline rent increase amount for the upcoming year. For 2014, the maximum allowable rent increase is 0.8% without Landlord and Tenant Board approval. This means that upon giving proper notice, in a Form N1, a landlord may increase the rent once in a 12 month period by 0.8% in 2014.
The maximum guideline amount, without authorization from the Landlord and Tenant Board is the amount that applies to a great number, and perhaps the majority of tenancies in Ontario. However, it should be noted that there are an increasing number of rental units that are exempt from the guideline increase amount. The exemption arises from legislative choices made many years ago beginning with the Tenant Protection Act in or about 1997. That legislation, and subsequently the current Residential Tenancies Act continues an exemption from the annual guideline amount for certain properties. To see which properties are exempt from the Guideline increase amount take a look at the provisions of the Residential Tenancies Act and specifically section 6(2).
Michael K. E. Thiele
Wednesday, 21 August 2013
2014 Guideline Rent Increase Amount
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