ontario rent increase

Are you tired of constantly worrying about rent increases in Ontario?

Rent prices have been on the rise in Ontario over the past few years, and if you’re looking for a new place, you might be wondering when you'll see a drop.

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Every year, the Ontario government announces how much more landlords can charge for rent for the next year, and this time around, they are trying to make sure renters don't see major price hikes in 2023.

In a news release issued on June 29, the provincial government said the rent increase guideline for next year will be 2.5%, which will be the max amount landlords can bump up the rent (that is, without getting the approval of the Landlord and Tenant Board).

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As Ontario gets colder this winter, your rent prices may get hotter.

Ontario's rent freeze was put in place on October 1, 2020, and officially expired on December 31, 2021.

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