(AGENPARL) - Roma, 29 Giugno 2022 - (AGENPARL) – mer 29 giugno 2022 [Ontario Logo]
NEWS RELEASE
Ontario Caps 2023 Rent Increase Guideline Below Inflation at 2.5 Per Cent
June 29, 2022
Ontario’s rent increase guideline for 2023 is 2.5 per cent, below current rates of inflation. The rent increase guideline is the maximum amount a landlord can increase rent during the year for most tenants without the approval of the Landlord and Tenant Board.
The guideline is based on Ontario’s Consumer Price Index, a measure of inflation calculated monthly by Statistics Canada using data that reflects economic conditions over the past year. Due to recent inflation, this would result in a 2023 guideline of 5.3 per cent, however the guideline is capped to help protect tenants from significant rent increases.
“As Ontario families face the rising cost of living, our government is providing stability and predictability to the vast majority of tenants by capping the rent increase guideline below inflation at 2.5 per cent,” said Steve Clark, Minister of Municipal Affairs and Housing. “We continue to look for ways to make homes more attainable for hardworking Ontarians, while making it easier to build more houses and rental units to address the ongoing supply crisis.”
The guideline applies to the vast majority – approximately 1.4 million – of rental households covered by the Residential Tenancies Act. It does not apply to rental units occupied for the first time after November 15, 2018, vacant residential units, community housing, long-term care homes or commercial properties.
Quick Facts
– The 2023 rent increase guideline is applicable to most rent increases between January 1 and December 31, 2023.
Additional Resources
Media Contacts
Zoe Knowles
Minister’s Office
Communications Branch