Ontario landlords can increase rents by up to 2.5 per cent in most units without asking for special approval next year.
The province announced on Wednesday its rent increase guideline for 2023, which will apply to rent increases that take effect between January 1 and December 31 next year.
Minister of Municipal Affairs and Housing Steve Clark says the government is trying to provide stability by setting the pattern below inflation as families face rising cost of living.
The province says the rate applies to most rental homes, but does not apply to units that were first occupied after November 15, 2018, empty units, community housing, nursing homes long lasting or commercial properties.
Landlords can also set higher rents with the approval of the provincial Landlords and Tenants Board.
New Democrat interim leader Peter Tabuns says the maximum of 2.5 per cent is still higher than the annual wage increases of many tenants, and those increases will hurt people across Ontario.
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