Starting next year, Ontario landlords can raise rents by up to 2.5%, as per the recent guidelines published by the Ford government. This rate remains consistent with the last two years and is touted as the lowest in the country. Without the cap, the increase would have been 3.1% due to inflation.

In response, Ontario NDP housing critic Jessica Bell highlighted the ongoing housing crisis, criticizing the government's approach. "The Conservatives have had six years to fix the housing crisis, and they’ve failed," she said, pointing out that the current guidelines are insufficient and calling for more meaningful rent control measures.

It's worth noting that rent control in Ontario applies only to units first rented before November 15, 2018. Newer units can see unrestricted rent hikes. Landlords can seek increases beyond 2.5% by applying to the Landlord and Tenant Board (LTB), provided they give tenants 90 days' notice and adhere to the once-a-year increase limit. Tenants can challenge improper increases with the LTB.

With the housing market's pressures, this rent cap is a critical point in Ontario’s ongoing dialogue about affordability and housing policy.

If you are looking for a place to rent or need to sell or invest in a rental property, contact us today! 905.335.4102 | info@roccasisters.ca

Posted by Tanya Rocca on
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