The annual rent increase guideline for 2008 is 1.4%.
Under the RTA, the annual rent increase guideline is based on the Ontario Consumer Price Index (CPI). The CPI will be the rate of inflation for the year running from June to May. The guideline is announced each summer for the following year.
The guideline will be more stable and never higher than inflation.
Note:
- The annual rent increase guideline is the maximum percentage that landlords can raise rents without getting permission from the Board.