Information On Rent Increases And Reductions
We previously went over certain aspects of rent that tenants should be aware of including: how rent price is set, what services it covers, payment methods, rent deposits, and rent receipts. Another aspect of renting that tenants should be aware of is the fact that a rent can change if circumstances permit.
Tenants should be aware of the following:
Rent can increase. A landlord can increase rent, but usually only after a tenant has been living in the residence for a period of 12 months. The landlord must first give written 90-day notice to the tenant. Rent increases can occur in the following situations:
– Yearly increase set by the Ontario Government. The Landlord and Tenant act must approve any increase beyond that unless agreed upon between the landlord and tenant.
– Significant increase in municipal taxes, charges, or utilities has occurred.
– Major repairs or renovations have been done.
Rent can be reduced. There are certain situations where the landlord is required to decrease rent. This includes situations where utility costs have gone down significantly or municipal property tax is reduced by more than the prescribed percentage.
Ottawa apartments rent also you can reduce with discuss your Ottawa agents.
Tenants can apply for rent reductions: this usually occurs if municipal taxes or charges on the property decrease, when a landlord removes a service that was previously provided, or the conditions upon which a landlord increased rent above the guideline are not met.
Apartment Hunting Note Guide
If you’re looking for a new apartment, making sure to ask all the right questions is very important. Leaving an apartment viewing only to realize that there are important things you forgot to ask is not a fun situation to be in. To help you avoid that, we here at Ontario Apartments have put together a note guide to bring with you to apartment viewings. All you have to do is print, and fill one out for each apartment you go see. It’ll help make sure you get all the information you need. Click on the link below to download the PDF version of the Apartment Hunting Note Guide.
CLV Group is a source to find houses, Townhouses, apartments across Ontario. You can search Sarnia apartments for rent, Kingston, London, Toronto apartments, apartments for rent Ottawa at CLV Group.
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