Most Ontario landlords will be able to increase rent by up to 2.5 per cent next year.
Minister of Municipal Affairs and Housing Steve Clark says the rent increase guidelines for 2024 will be kept at the same rate this year.
The cap will not apply to rental units first occupied after November 15th 2018.
Landlords can apply to the Landlord and Tenant Board for increases over 2.5 per cent.
Tenants must be given at least 90 days notice of their rent increasing with landlords not being able to increase the rent more than once per year.
