Look at the increases that used to be allowed before 1994, some increases up to 6% and quite high for all the years in the early nineties and late eighties, the rules are much tighter nowadays to protect tenants from large rental increases
| YEAR | RENTAL INCREASE ALLOWED, as % |
| 1987 | 5.2 |
| 1988 | 4.7 |
| 1989 | 4.6 |
| 1990 | 4.6 |
| 1991 | 5.4 |
| 1992 | 6 |
| 1993 | 4.9 |
| 1994 | 3.2 |
| 1995 | 2.9 |
| 1996 | 2.8 |
| 1997 | 2.8 |
| 1998 | 3 |
| 1999 | 3 |
| 2000 | 2.6 |
| 2001 | 2.9 |
| 2002 | 3.9 |
| 2003 | 2.9 |
| 2004 | 2.9 |
| 2005 | 1.5 |
| 2006 | 2.1 |
| 2007 | 2.6 |
| 2008 | 1.4 |
| 2009 | 1.8 |
| 2010 | 2.1 |
| 2011 | 0.7 |
| 2012 | 3.1 |
| 2013 | 2.5 |
| 2014 | 0.8 |
| 2015 | 1.6 |
| 2016 | 2.0 |
| 2017 | 1.5 |
| 2018 | 1.8 |
| 2019 | 1.8 |
| 2020 | 2.2 |
| 2021 |
As a Landlord or Tenant, you'll want to know how much your rental amount can increase
every year. The rental increase for 2015 is 1.6% ans the increase set for 2016 is 2%.
A quick look at the table above tells you that the rental increase allowable in Ontario varies between 0.7 and 6%. Typically, over the past 10 years the allowed increase averages out well under 2%.
So, if you're renting, you now know how much your rent can go up, and as a Landlord, always remember to apply the rent increases to your tenants. Many times I've seen Landlords who bag a great tenant and never apply the rental increase, which, in the long run can devalue your property.
If you want to buy or sell a property to rent it out, view our Income Properties for Sale.
contact Patrick Walchuk