The guideline for Ontario rent increases for 2022 has been set by the Ontario Municipal Affairs and Housing.
For 2022, landlords can increase their rent by 1.2 percent. The guideline is based on the Ontario Consumer Price index (CPI).
This guideline will apply to most residential rentals in Ontario.
Ontario had frozen rent increases for most tenants for all of 2021 so the increase is welcomed by landlords all be it, the 1.2% seems dismal when compared to what actual inflation has been measured at the past few months.
Fuse Property Management is sending out our rent increase notices to our managed rental properties now (September 2021) to take effect January 1st. You must provide your tenants with 90 days written notice of the rent increase.
On all three of our management packages, rent increases are included and we do these automatically for you, unless instructed not to increase the rent.
Just one of the many things we do to make owning a rental property in Simcoe County easier for all.