Increasing Rent in a Periodic Tenancy
In a periodic tenancy the law allows you to increase the rent. The law does not limit the amount by which the rent can be increased, but the law does limit when and how often an increase can take
Effective April 24, 2007, rent increases are limited to one per year. In other words, rent can be increased if there has not been a rent increase within the previous year (365 days) or since the start of the tenancy, whichever is later. Even if the last rent increase occurred before April 24, 2007, one year must elapse before rent is increased again.
The minimum three month rent increase notice for periodic residential tenancies continues to be in place.
Any notice to increase rent that doesn’t comply with the legislation is void and could result in a landlord facing fines.
January 2008