It will only be 0.7%. This means that rent increases from January 1st, 2011 to December 31st, 2011 can be no greater than 0.7% for residential tenants in Ontario.
Could this be an early Election Present for the 2011 Provincial Election Coming Up in the Fall of 2011?
This means your current rent multiplied by 0.07% will give you your increase for 2011. The Guideline Increase is based on the Consumer Price Index (CPI).
Rental Guideline Increases in Ontario vary between 0% and 3%. They cannot be higher than 3% in any year unless the Landlord Tenant Board grants an individual Landlord an Above Guideline Increase (AGI) through an LTB Application.
