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Rent Freeze for 2021 – Ontario

Rent Freeze

The rule increase endorsed by the Landlord and Tenant Board preceding October 1, 2020, may be applied to 2021 rents.

The Government of Ontario has passed legislation to freeze lease at 2020 levels. this means that rents won’t increase in 2021 for far and away most of the rented units covered under the Residential Tenancies Act.

The rent freeze applies to most occupants living in:

~ Rented houses, lofts/condos and apartment suites (including units that occupied for the primary time residential purposed after November 15, 2018)
~ Basement apartments
~ Care homes and also retirement homes
~ Land lease communities
~ Rent-Geared-to-Income Housing and market rent units in community housing
~ Affordable housing units created through various funded programs

While the rent freeze will endways day, 2021, landowners can allow appropriate 90 days’ notification prior to time for a rent increase that begins in 2022.

What are the exemptions:

Above rule increase endorsed by the Land and Tenant Board preceding October 1, 2020, may be applied to 2021 rents. New above rule increases might, in any case, be supported by the owner and Tenant Board might, and might still be applied to 2021 rents just in case they’re for costs identified with qualified capital repairs and security services, yet not just in case, they’re for exceptional expansions in municipal taxes and charges.

Tenants and landlords/property managers can in any case concur on rent increase reciprocally for extra assistance or facility (for instance, cooling/air conditioning or parking)

About Author

Julie Camacho, a product specialist of Mi Property Portal, an 𝐀𝐥𝐥-𝐢𝐧-𝐎𝐧𝐞 software that will streamline your entire residential property management business. This software is built for small to mid-sized Canadian property management companies, individual landlords, and investors.
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