2012 Rent Increase Guideline Announced

[shaer32]

If you have a lease with your tenant, can you legally change the rates as long as you give proper notice?

[LandlordD]

Is it just me, or does anyone else think the bureaucrats have spent the past month working with the politicians to write the release and this Friday date was set long ago!

[thebobert]

http://www.therecord.com/news/canada/ar ... nge-system

I don't what to say in response to this other than everyone on these forums were right.

[BigFoot]

If you have a lease with your tenant, can you legally change the rates as long as you give proper notice?

You can increase the rent, by no more than the legally mandated maximum (2011: 0.7%; 2012: 3.1%) no earlier than every 12 months. It doesn't matter whether or not you have a written lease. It doesn't matter if you just bought the property -- an increase can happen every 12 months, regardless of whether the landlord has changed.