Ontario caps rent increases at 1.6%

The Ontario government is capping next year’s rent increase at 1.6 per cent.

That’s the most a landlord can raise the tenant’s rent without the approval of the Landlord and Tenant Board.

The cap applies to rent increases between January 1 and December 31 of next year.

The guideline is a measure of inflation calculated monthly by Statistics Canada. 2015’s increase is a far cry from the 2014 cap, which was set at 0.8 per cent.