Rent Increase Set for 2015

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The Ministry of Municipal Affairs and Housing has announced the 2015 rent increase cap: 1.6%. The cap will apply to about 85% of private residential units in Ontario.

Also known as the rent increase guideline, this is the maximum a landlord can raise a tenant’s rent without the approval of the Landlord and Tenant Board. It applies to rent increases between Jan. 1 and Dec. 31, 2015.

The guideline is based on the Ontario Consumer Price Index, a measure of inflation calculated monthly by Statistics Canada. It is calculated under the Residential Tenancies Act, 2006, which caps rental increases at a maximum of 2.5 per cent.

 
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