Often when I meet new clients looking to rent, one one of the first things they mention is wanting a property with rent control.
Lucky for you, properties in Toronto are almost ALL subject to rent control! With a few exceptions that I’ll outline for you…
I noticed many people shocked by their rent increase in 2019. It’s part of the reason I get many others making sure they find a property with rent control… You hear that horror story of your friend getting notice of a 20% increase & want to make sure the same won’t happen to you.
If an increase was higher than the allocated percentage without any other reasons, it could have been a new residential property that wasn’t subject to the same increase limits.
New properties occupied for the first time (for residential purposes) on or after November 15th, 2018 aren’t subject to rent control. That means, if you moved into a new condo downtown last year, built & incorporated after November 15th, 2018, your rent can increase as much as your landlord wants.
Newly built basements & residential property additions fall into this same category.
Other properties not subject to rent control:
– vacant residential units
– social housing units
– nursing homes
– commercial spaces
What Are The Annual Increase Allowances?
Every year the rental control percentage changes.
Below are the annual increase guidelines for the past few years. They are for the period of January 1st to December 31st of each year.
2020 – 2.2%
2019 – 1.8%
2018 – 1.8%
2017 – 1.5%
2016 – 2%
If your rent was increased to $2000 on February 1st, 2019, your landlord can increase your rent by 2.2% on February 1st, 2020.
$2000 x 2.2% = $44
$2000 x 1.022 = $2044
The maximum increase your landlord can ask in 2020 is $44. The earliest they can ask for that increase to be implemented is February 1st, 2020 but they must have provided you with 90 days written notice.
Increases can be implemented 12 months after a tenant first moves in or 12 months after the last increase. There are exceptions to this, but this is the standard!
Tenants must be given written notice 90 days prior to the rent increase taking effect.
There is a lot to know as a tenant or a landlord! If you have any questions about about rent control or anything else in the renting process, I’m happy to help!
Lara Stasiw • Real Estate Agent & Home Design Connoisseur
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