2016 ONTARIO RENT INCREASE GUIDELINE
NEWS
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2016 Ontario Rent Increase
Guideline
June 19, 2015 9:00 A.M.
The 2016 rent increase guideline has been set at 2.0
per cent and applies to most private residential rental accommodation covered
by the Residential Tenancies
Act, 2006.
The guideline is not
applicable to:- Vacant
residential units
- Residential
units first occupied on or after November 1, 1991
- Social
housing units
- Nursing
homes
- Commercial
property
Calculation of the guideline - The rent increase guideline is calculated under the Residential Tenancies Act, 2006 and is based on the Ontario Consumer Price Index, which is calculated monthly by Statistics Canada. The 2016 guideline is calculated by averaging the percentage increase in the Ontario Consumer Price Index during the previous 12 months from June 2014 to May 2015.
Sample rent
increase calculation - The monthly rent of an apartment
is $1,000 beginning Aug. 1, 2015. With proper written 90 days notice to the
tenant, the landlord could lawfully increase the rent 12 months later on Aug.
1, 2016.
For example:- The
guideline for 2016 is 2.0 per cent
- A
rent increase of 2.0 per cent on $1,000 = $20.00
- Therefore,
the new rent on August 1, 2016 could be up to $1,020.00 ($1,000 +
$20.00)
Year
|
Guideline (%) |
| 2016 | 2.0 |
| 2015 | 1.6 |
| 2014 | 0.8 |
| 2013 | 2.5 |
| 2012 | 3.1 |
| 2011 | 0.7 |
| 2010 | 2.1 |
| 2009 | 1.8 |
| 2008 | 1.4 |
| 2007 | 2.6 |
| 2006 | 2.1 |
| 2005 | 1.5 |
| 2004 | 2.9 |
| 2003 | 2.9 |
| 2002 | 3.9 |
| 2001 | 2.9 |
| 2000 | 2.6 |
| 1999 | 3.0 |
| 1998 | 3.0 |
| 1997 | 2.8 |
| 1996 | 2.8 |
| 1995 | 2.9 |
| 1994 | 3.2 |
| 1993 | 4.9 |
| 1992 | 6.0 |
| 1991 | 5.4 |
For media inquiries only:
Mark Cripps Minister's Office
416-585-6842
.
Conrad Spezowka Communications Branch
416-585-7066 |
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