Starting January 1st, landlords across the province of Ontario will be able to increase rent by a maximum of 2.2 per cent in 2020, according to Ontario’s new rent increase guideline.
The province calculates the guideline using the Ontario Consumer Price index, which is a Statistics Canada tool that measures inflation and economic conditions over a year.
According to the guideline, a units rent can be increased 12 months after the last rent increase or when a tenant first moves in. Landlords must give tenants a written notice of rent increase at least 90 days before it takes effect.
This guideline applies to most private residential rental units, excluding vacant residential buildings, social housing, nursing homes and commercial properties.
The Ontario government website states that the guideline does not apply to new buildings, additions to existing buildings and most new basement apartments that are occupied for the first time after November 15, 2018.