ONTARIO TENANT RENT INCREASE GUIDELINE FOR 2021 SHOULD BE 1.5% IF PASSED BY THE GOVERNMENT. ANNUAL INCREASE GIVEN TO LANDLORDS IS ACTUALLY AN INCREASE IN PROPERTY VALUE AND REVENUE - LANDLORDS BENEFIT TWICE EACH YEAR FROM THE INCREASE - 111 LAWTON BLVD
Ontario Consumer Price Index for June 2019 to May 2020 The potential rent increase for Ontario renters for 2021 is 1.5% unless the Ford government holds off on allowing landlords to implement the increase. How the guideline is calculated It is calculated using the Ontario Consumer Price Index , a Statistics Canada tool that measures inflation and economic conditions over a year. Data from June to May is used to determine the guideline for the following year. Consumer Price Index for Ontario June 2019 - May 2020 June 2 July 2.1 August 1.9 September 1.7 October 1.7 November 1.9 December 2.1 January 2.1 February 2 March 0.7 April -0.1 May -0.4 17.7 Divide by 12 1.5% Previous rent increase guidelines The chart below illustrates yearly rent increases, in Ontario, from 2016 to 2019. Increase for 2020 - 2.2% Year Guideline (%) 2019 1.8 2018 1.8 2017 1.5 2016 2.0 HOW A LANDLORD BENEFITS TWICE WITH THE ONTARIO ANNUAL...
