2012 Rent Increase Guideline Announced

[Skitter]

keep in mind that this 3.1% increase will NOT be enough for many landlords to afford to make repairs or maintain their rentals.

In fact for landlords in the GTA this increase wont even keep up with:

-former mayor miller's new gargbage fees
-the city of toronto's annual 10% water rate hike
-mcguinty's HST
-mcguinty's smart meter costs
-mcguinty's higher time of day hydro surcharges


also keep in mind that this 3.1% increase

-comes after the liberal's gift to tenants of a ridiculously low 0.7% rent increase (the smallest in ontario's history)
-in many cases will NOT be given to tenants due to high competition in the current rental housing market.

[Greg]

I feel sorry for landlords operating under the misconception that having a good long term tenant is a good thing.
I have about 10 of the best tenants a landlord could ask for, long term, and all about $100 a month below the going rate. I would not for a moment be sad to see them move.
I would gladly take a chance on the unknown knowing that I could raise all there rents a significant amount.

[Canuck]

In BC the 2011 increase was 2.3%

Here's how it's done:

1.3.1 How much can rent be increased for a residential tenancy?

Residential tenancy landlords can increase rent annually by a percentage equal to the inflation rate plus two percent without tenants disputing the increase. The total allowable rent increase for each calendar year is available on the Residential Tenancy Branch website in September of the previous year, under the heading “News”.

[downtowner]

I feel sorry for landlords operating under the misconception that having a good long term tenant is a good thing.
I have about 10 of the best tenants a landlord could ask for, long term, and all about $100 a month below the going rate. I would not for a moment be sad to see them move.
I would gladly take a chance on the unknown knowing that I could raise all there rents a significant amount.

Well, I don't know about that... I kinda feel the opposite.

Having had a tenant from hell I value someone that's quite, pays rent on time, and takes reasonable rates effort with the property.

I feel like everytime you 'look' for a new tenant, you're 'rolling' the dice.

if you tihnk about it.... 100 more, over a period of a year, is probably about the same amount of rent collected if left vacant for 1 month...

things to consider