Manitoba Landlords Can Raise the Rent 1.3% in 2018 (For Most Rental Properties)
Successful, Experience Manitoba landlords know how important it is to keep raising the rent each year in order to help you cover your costs. In order to attract tenants (and keep them) you have to make sure your property is attract, safe, and well-maintained.
This costs money and with prices going up you need to make sure you keep making rent increases even if they are minor and don’t fall behind.
How Much Can Manitoba Landlords Raise the Rent in 2016?
In Manitoba rent increases are controlled. The Manitoba Rental Branch as made the announcement that landlords can raise the rent by only 1.3% in 2018.
How Does That Compare To the Manitoba Rent Increase for 2017?
In 2017 the rent increase guideline was 1.5% so even though costs keep rising, the 2018 rent increase is actually less than 2017. In 2016 the rent increase guideline was 1.1% for Manitoba landlords.
How Can You Tell Your Tenants About the Rent Increase?
Landlords need to give your tenants notice of the rent increase by at least 3 months before the new rent will come into effect.
What Forms Can Manitoba Landlords Use To Give Notice of the Rent Increase?
You can go to the Manitoba Residential Tenancies Branch to get the Notice of Rent Increase forms.
Are Any Manitoba Rental Properties Exempt from the Guideline?
Yes, this is where Manitoba is more flexible than other provinces such as Ontario where landlords with even new build rental properties are under rent control.
In Manitoba the following properties are exempt from the rent increase guideline:
-Units that rent for at least $1,475/month as of Dec. 31st, 2007
-Personal care homes -Approved rehabilitated rental units
-New buildings less than 15 years old where an occupancy permit was first issued or a unit was was first occupied after April 9, 2001
-New buildings less than 20 years old where an occupancy permit was first issued or a unit was was first occupied after April 9, 2005
Manitoba Landlords Can Raise the Rent By Only 1.3% in 2018
Landlords are you going to raise the rent in 2018? Experienced and successful landlords know the importance of raising rents to make sure you can cover ever increasing costs.