Here's how much landlords in Ontario can hike rent prices by in 2024 Ontario
, which is a measure of inflation calculated by Statistics Canada using data that reflects economic conditions over the past.
The rent increase guideline applies to the vast majority, or approximately 1.4 million rental households covered by theThe Ontario government needs to freeze any rent increases at zero for the foreseeable future. They also need to fund more affordable and rent geared to income housing.It does not apply to rental units occupied for the first time after Nov. 15, 2018, vacant residential units, community, housing, long-term care homes or commercial properties.
Rent increases are not automatic or mandatory, and landlords can only raise rent if they give tenants a 90-day written notice. At least 12 months must have also passed since the first day of tenancy or the last rent increase.
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