The Ontario government is rolling out a cap on rent that could give tenants a much-needed break.
Starting in 2024, the rent increase guideline will be held at 2.5%, held side by side with a 5.9% inflation increase seems like a great move going into the pockets of community members.
myFM spoke with Andrew Dick, the owner and operator of Dick’s Property Management, where he offered insight into working with the L&T Board and the less obvious effects this may have on rentals in the valley.
Tenants who may need help to pay their rent are encouraged to contact their local service manager to see what housing supports are available in their community.
Here are some extra resources to keep you informed on your rights and responsibilities:
- Learn more about renting in Ontario and your rights as a tenant, including easy-to-understand rental leases and protections against wrongful or bad faith evictions.
- Learn about the rules for rent increases, including rent increase guidelines and resolving issues about rent control.
- Use Navigate Tribunals Ontario to learn about your rights and responsibilities and the rules and processes at the Landlord and Tenant Board.
- Visit Ontario’s website for information on how to solve a disagreement with your landlord or tenant, and learn how we can help if a landlord or tenant breaks a rule under the Residential Tenancies Act.
(Written by Luke Notman)
