Sorin Claudiu Vaduva

Sorin Claudiu Vaduva

Sales Representative

FIRST CHOICE REALTY ONTARIO LTD., BROKERAGE*

Mobile:
(613) 262-9562
Office:
(855) 728-9846 ext. 821
Email Me

The new Rental guideline has been posted for 2022

Happy Friday Everyone!

We had a rent freeze in 2021 with no allowable increases but as of next year in 2022 as a Landlord you can increase the rent for current leases

The new Rental guideline has been posted for 2022 and the maximum allowed for rent increase for next year is 1.2%

How to Calculate the total increase allowed:

Your monthly rent is $1,000 when you sign a lease on June 1, 2021. The guideline for 2022 is 1.2%. Therefore:

an increase of 1.2% on $1,000 = $12.00

$1,000 + $12.00 = $1,012.00

If you are a Tenant then your landlord must provide a minimum of 90 days notice before any rent increase can begin. The increase can only happen after 12 months of the start of your tenancy

Hope this info helps and if you have any questions please feel free to reach out

Sorin Vaduva Real Estate

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