Jun 20, 2014
By Bob Komsic
Rents cannot go up more than 1.6% next year.
The cap, also known as the rent increase guideline, is the most a landlord can hike a tenant’s rent without the approval of the Landlord and Tenant Board.
The guideline’s based on the Ontario Consumer Price Index as calculated monthly by Statistics Canada.
The 2014 rent hike guideline was 0.8% – the second lowest cap since rent regulation was brought in nearly 40 years ago.
It covers about eight in 10 private residential units in the province and applies only to buildings built before November 1991.