Rents in Ontario could rise in 2022
The provincial government has released a plan to raise prices.
You may have to pay 1.2% more for housing in Ontario next year. The rent increase has been determined using the Ontario Consumer Price Index, which measures inflation and additional data reflecting economic conditions over the past year.
The new price increase guidance applies to most rented accommodation falling under the Residential Tenancies Act, but excludes those first occupied after 15 November 2018, social housing, care homes and commercial properties.
Rent increases are not automatic or mandatory. Landlords can only increase rents if at least 90 days' written notice has been given to their tenants. In most cases, rent increases cannot be more than 1.2%. In addition, at least 12 months must elapse from the first day of the lease or the last rent increase.
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