23
Oct
Author: admin / Category:
Ontario Real Estate
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.
Based on Industrial Product Price Index information from Statistics Canada, Reed Construction Data-CanaData calculates material construction cost indices – for overall construction and major type-of-structure sub-categories.
The year-over-year change for total construction in May 2009 was -7.9%. This was comprised of residential construction at +1.6%, non-residential buildings at -5.1% and engineering work at -15.7%. Material cost changes may still be sleeping lightly, but there are signs that they are starting to stir.
The residential materials cost index has been essentially flat for the past four years. A heavy weighting in the residential materials index goes to lumber prices. Lumber prices have been on a downward trajectory since early in 2006, which was when U.S. housing starts began their steep descent. In the most recent period, weak Canadian housing starts have had a significant impact on lumber prices regionally. For example, softwood lumber is -12.4% in Ontario versus six months ago and -6.7% in B.C. versus three months ago.
via Some Canadian construction material costs set to rise – Daily Commercial News.
