The passage of the Residential Tenancies Amendment Act will cap the maximum amount most landlords can increase a sitting tenant’s rent during the year at 2.5 per cent.
Tenants will benefit from more predictable and stable rents so they have safe and affordable housing. For landlords, this will ensure a fair return so they can properly maintain and repair rental properties.
The Rent Increase Guideline will continue to be based on the Ontario Consumer Price Index.
Capping the Rent Increase Guideline is part of the McGuinty government’s plan to provide affordable housing for Ontario families.
The Durham Real Estate Investor club began in 2008. Whether you are just starting your journey, have been investing for a few years, or are a well seasoned real estate investor the Durham Real Estate Investor Club has many benefits to you.
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