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2007 Ontario Rental Guidelines
T
he Ministry of Municipal Affairs and Housing has released the province’s rent increase guideline for 2007. The 2007 guideline will be 2.6 per cent. The new rent increase guideline becomes effective January 1, 2007 and establishes the maximum amount that a landlord can increase a tenant’s rent without making an application to the Ontario Rental Housing Tribunal.
This guideline does not apply when renting a vacant unit. Under the Tenant Protection Act, 1997, when a unit becomes vacant, a landlord is free to charge whatever rent he/she chooses. Once the unit is rented, however, the guideline increase applies for subsequent increases to that tenant.
The guideline applies to most private residential rental accomodation covered by the Tenant Protection Act, 1997. The guideline does not apply to residential dwellings first occupied (by any owner or tenant) on or after November 1, 1991.
For more information on rent increases, please contact the Ontario Rental Housing Tribunal at 416-645-8080 or 1-888-332-3234.
August 29, 2006 in Legal Considerations | Permalink
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Comments
Where's the table below? :)
Posted by: davidm | Aug 29, 2006 2:06:37 PM
