According to Ontario Landlords Association;
The Rent Increase Guideline for 2013 is 2.5%.
The amended guideline formula is in line with the average Rent Increase Guidelines over the past five years (1.8%) and 10 years (2.1%).
Our approach provides stability and predictability for both renters and landlords during these uncertain times. However, our government recognizes that modest rent increases are necessary to ensure that landlords can properly maintain their rental properties.
Our government recognizes the valuable contribution that landlords make to the rental-housing market in Ontario. That is why landlords can continue to apply to the Landlord and Tenant Board for above-guideline rent increases for the following:
- extraordinary increases in the costs of municipal taxes and charges, or utilities;
- eligible capital expenditures; and
- increases in operating costs related to security services.