TORONTO – The province has set the maximum amount landlords can hike their tenants’ rent in 2017.
The Ontario government has announced that rent increases next year can be 1.5 per cent at most, unless the landlord gets an approval from the Landlord and Tenant Board.
The calculation is based on the Consumer Price Index and the guideline doesn’t necessarily mean a landlord will raise the rent.
According to the Canadian Mortgage and Housing Corporation, the average monthly rent in Cornwall in 2015 for a one bedroom apartment was $638 and a two bedroom was $796.
Roughly 26-27 per cent of households in Cornwall and SD&G are rental properties and 70 per cent of those rental properties are located within the city limits, according to SD&G social services data.