Province Sets 2009 Rent Increase Guideline
The 2009 rent increase guideline is 1.8 per cent, the third lowest guideline in provincial history.
The rent increase guideline is the maximum amount by which a landlord can increase the rent of an existing tenant without seeking the approval of the Landlord and Tenant Board.
The 2009 guideline applies to rent increases that occur between January 1 and December 31, 2009.
The calculation is based on the Ontario Consumer Price Index, a reliable and objective measure of inflation that is calculated by Statistics Canada.
- The first rent increase guideline was calculated in 1975 at 8 per cent.
- The 2009 guideline is calculated under the Residential Tenancies Act, which took effect on January 31, 2007, creating a new system of rent regulation that includes linking the rent increase guideline to the Ontario Consumer Price Index.
“We’re protecting tenants by keeping rent increases within the rate of inflation, while ensuring that landlords can recover increases in their operating costs.”