With the new year around the corner (I have no idea how we got to November) I wanted to remind you all about the Ontario rental increase for next year. Not the greatest topic to discuss during the holiday season… I rather be checking out Toronto RedFlagDeals, Christmas cookies recipes and puppies but I want you all to me armed and ready for what could happen in the new year.
Toronto Rent Increase Guidelines
It’s important to note, the Ontario rental increase for 2020 is set at 2.2%. This is the highest increase Ontario renters have seen since 2013. For the past two years, the rental increase percentage has not changed and stayed at 1.8%. According to the Ontario Government, the rent increase guideline will be 2.2% between January 1 and December 31, 2020.
Who does the Ontario rental increase NOT apply to?
The Ontario rental guidelines does NOT apply to residential units that are vacant, social housing units, nursing homes and commercial properties. Also, it does not apply to new buildings, additions or basement apartments that are occupied for the first time after November 15, 2018.
When can rent be increases
The rent for a unit can be increased 12 months after the last rent increase or 12 months after a tenant first moves in. It is the responsibility of the landlord to provide the tenant with a written notice for the rent increase 90 days before it takes effect.
A sample calculation
Here is a sample calculation of how the rent increase works:
Monthly rent for 12 months is $1000
Guideline for 2020 is 2.2%
- an increase of 2.2% on $1,000 = $22.00
- $1,000 + $22.00 = $1,022.00
With written notice, your landlord could lawfully increase your rent payment in 2020 to $1,022.00 per month.
Contact the Landlord and Tenant Board
If you need more information or just want to read up on tenant rights, you should visit the Landlord and Tenant Board website at http://www.sjto.gov.on.ca/ltb/contact/
You could also contact them:
- by email
- 1-416-645-8080 (in the Toronto area)
- 1-888-332-3234 (toll free, outside the Toronto area)
Looking to lease in Toronto West End? Contact me, it would be my pleasure to help you.