At the last InterNations meeting, as I talked to a fellow member, the subject of rent increase came up.
As is normal in such cases, the landlord must inform the tenant in writing, about their intention to increase the rent for the next rental period. This notice should take place at least 90 days prior to the rental contract coming to an end, for such increase to take effect.
This increase in rent is normally regulated and an annual guideline percentage is set for rent increases during a specific year.
Although owners can apply for increases above this set guideline, some conditions must be met before applying and generally relate to increases in property taxes, or recent investments for property improvements, and so on.
I thought that since many members of InterNations in Toronto are tenants, this would be an interesting piece of information to share. As such, please find the Protected content increase guideline from the Landlord and Tenant Board, in the following link:
It is important to state that residential units first occupied on or after November 1st, Protected content , are not subject to this increase guidelines.
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See you for now.
Real Estate Sales Representative