McGuinty Government Balances Needs Of Landlords And Tenants
Ontario’s rent increase guideline for the year 2010 will be 2.1 per cent.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 2010 guideline applies to rent increases that occur between January 1 and December 31, 2010.The calculation is based on the Ontario Consumer Price Index, a reliable and objective measure of inflation that is calculated by Statistics Canada. This calculation method was implemented by the province and came into force on January 31, 2007.
QUICK FACTS
- The 2010 guideline is calculated under the Residential Tenancies Act, which created a new system of rent regulation that includes linking the rent increase guideline to the Ontario Consumer Price Index.
- The first rent increase guideline was calculated in 1975 at 8 per cent.
via CORRECTION: 2010 Rent Increase Guideline.
Tags: consumer price index, cpi, Dalton McGuinty, Landlord and Tenant Board, ltb
