2023 Rent Increase Ontario Guidelines

[@NawarNajiRealEstate]

As a landlord are you increasing your rent in 2023? Let me know in the comments below

[@maysal-dulaymi]

Thanks Nawar for the video. I was wondering which form we should use to inform the tenant about the increase? N1 or N2 ? Also, the fact that the property is exempted from rent control is it something that should have been mentioned in the first tenancy agreement? The tenent knew that the property is only a year old.

[@maysal-dulaymi]

Is the rent control exemption include new townhouses or only apartment buildings and basements?

[@NawarNajiRealEstate]

The type of unit doesn’t matter. As long as the rental unit didn’t exist prior to Nov 15, 2018

[@maysal-dulaymi]

@@NawarNajiRealEstate Thanks Nawar for the prompt reply. My follow up question is about which form we should use to inform the tenant about the increase? N1 or N2 ?

[@NawarNajiRealEstate]

N1 for non-exempt, N2 for exempt

[@Sarahyangtoronto]

Doesn't mean if a building is new, you can increase the rent more than once a year and give a shorter notice period?

[@NawarNajiRealEstate]

You can increase the rent once per 12 month period via the N1 form which requires minimum 90 days notice. Hope this helps

[@naomihachan4886]

My landlord just increased my rent to more than 10% in Toronto and he gave me 60 day notice. Is this legal?

[@NawarNajiRealEstate]

Rent increases to be communicated via N1 form with minimum 90 days notice. With respect to the amount, if the rental unit did not exist prior to November 15,2018 they are exempt from rent control. Hope this helps

[@mikeready216]

Probably the wrong space to reply . But the answer is NO . I personally was a landlord owner / occupy duplex . I personally did not give any rent increase. Only because I have good tenants over the 15 years of owning this property. I sold it a couple of years back . And moved to another city . It is truly sickening what these big greedy corporations and wealthy people are trying and successful getting away with . The building I live in is over 40 years old . And knowing how this game works . The little person such as myself are being totally taken advantage of . And the owners are able to not only get away with it . They are able to double dip . And if you are one of those owners . You know exactly what I am talking about. Are government is making it that the wealthy get wealthier . And the middle class is disappearing. Thank you so much from a Canadian born and raised in CANADA !!!!