Friday, May 05, 2006

Tie Rent Hikes to Consumer Price Index in Ontario

Ontario's housing minister has introduced a bill to limit annual rent increases to no more than the Consumer Price Index in an effort to protect tenants from exorbitant rental hikes.

Housing Minister John Gerretsen says the proposed legislation protects the province's 1.35 million rental households.

Last year, the consumer price index was at 2.2 per cent. It was 1.9 per cent in 2004.

Under previous rules, landlords were allowed to raise rents by two per cent each year. However, rents were allowed to go higher if landlords could show they incurred higher operating costs.

Gerretsen says the proposed legislation would not hurt landlords and would keep the rental market strong.

CBC

1 Comments:

Blogger James said...

Ontario tenants clear are not pleased with the new Rental Tenancies Act Bill 109 according to this site.

Here are their recommendations for Ontario affordable housing policy.

8:51 AM  

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