The closest Ontario has to widespread rent control is a limit on the maximum amount homeowners can raise prices each year, but only on rental units created and occupied before November 15, 2018.
So, if you’re lucky enough to have been living in the same apartment or condo for almost four years, your rent (from now on) can only increase by 1.2 percent, the current rent increase pattern for 2022.
That is about to change, the provincial government announced on Wednesday, when the rent increase limit is doubled more than early next year, reaching 2.5 percent.
But hey, it could have been worse: according to the Ford government, the limit would have been set at 5.3 percent in 2023 if they had followed the inflation rate.
“Ontario’s rent increase guideline for 2023 is 2.5 per cent, below current inflation rates. The rent increase guideline is the maximum amount a landlord can increase rent during the year for most tenants without the approval of the Board of Landlords and Tenants, ”says a press release issued today by the province.
“The guideline is based on the Ontario Consumer Price Index, a measure of inflation calculated monthly by Statistics Canada using data that reflects last year’s economic conditions. Due to recent inflation, this would result in to a 2023 guideline of 5.3%, however, The guideline is limited to help protect tenants from significant rent increases ”.
How benevolent.
The statement specifies that this increase limit will only apply to about 1.4 million rental homes covered by the Residential Leasing Act.
“It does not apply to rental units occupied for the first time after November 15, 2018, vacant residential units, community housing, long-term residences or commercial properties,” the statement says.
“The increase in rent is not automatic or mandatory. Landlords can only increase the rent if they have notified tenants in writing with a minimum of 90 days notice using the correct form. In addition, at least 12 must have elapsed. months from the first day of the lease or the last rent increase. If a tenant believes he has received an inappropriate rent increase, he may apply to the Board of Landlords and Tenants for a correction request. “
Units that are not covered by Ontario’s often criticized rental control guidelines are not covered by these rules, so play well with your landlord if you live in a newer building and consider how long a property has been used. place as rental property. before entering it.
New constructions may be nice, but they don’t come with the same protections as the houses occupied for the first time before 2018. If you can really consider them as protections.