Limits Set On Guideline Rent Increases
On Wednesday June 13, 2012 the government of Ontario passed legislation that amended the Residential Tenancies Act as it relates to guideline rent increases. Previous to this amendment the guideline increase was set by the Consumer Price Index (CPI) and would go as high as the index allowed. Now the guideline increase is still set by the CPI but it is capped at 2.5 percent. This means that if the CPI exceeds 2.5 percent you will only receive an increase of 2.5 percent. Now the guideline is limited between 0-2.5 percent, no more, no less.
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