Province Capping Rent Increases

Some good news if you rent a place in northwestern Ontario.
The province has announced the cap on rent increases next year
will be 0.8%
That’s the second-lowest cap since rent regulation was brought in 38 years ago.
The cap is the maximum amount a landlord can increase a tenant’s rent without seeking approval from the province’s Landlord and Tenant Board.
It applies only to buildings built before November 1991.
The average rent increase guideline from 2004 to 2013 was 2.1%