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Oshawa Landlords: How Much Can I Raise the Rent?

January 7th, 2014 · No Comments · Oshawa Landlords, Rent Increase 2014

Oshawa landlords rent 2014

In Our First Blog Of 2014 We Look At The Ontario Rent Increase Guideline

Happy New Year to all the hard-working landlords in our city.

We also want to welcome new investors and those looking at investing in Oshawa rental properties in 2014.

In the coming months we will discuss important issues and report news important to Oshawa landlords.

Rent Increase Guideline 2014

Many landlords read the Toronto Sun story on December 29th, 2013 with great interest.

The Sun’s provincial political reporter wrote about the Ontario Rent Increase Guideline for 2014.

Rent Control

Experienced landlords and investors know the province of Ontario controls how much landlords can raise the rent on the tenants who currently live in our rental properties.

For example, in 2013 Ontario Landlords could raise the rent 2.5%.

Spiraling Costs for Landlords

How have your costs risen recently?

Many landlords have experienced some pretty big increases in the expenses just to maintain our rental properties in good condition.

For example, the price to get an electrician or a plumber keep getting higher.

Or you need to buy materials to replace a window or buy wood planks to fix a porch or a deck.

Prices keeps rising.

And we look at our gas, electricity, water and other bills with disbelief.

Our taxes are also rising.

Does anyone believe anything will actually get cheaper in 2014?

Helping Landlords Cover Our Raising Costs

The rent increase guideline is supposed to help landlords cover our growing costs by allowing us to raise the rent on our tenants.

This is why many Ontario landlords were upset we can only raise the rent by 0.8% in 2014.

Landlords all over the province were unhappy.

You can read some of the comments on the Ontario Landlord Forum.

It gets even worse when you see BC landlords can raise the rent 2.2%.

Are our landlord costs so much lower than theirs?

And provinces such as Alberta don’t control how much landlords can raise the rent.

Alberta landlords can raise the rent as the market sees fit.

Oshawa Landlords and 2014

Most landlords feel the rent increase is far too low.

How do you feel about it?

Too low? Good Enough?

Are you even going to raise the rent this year?

In the coming months we will share your opinions on this and other important landlord issues.

Stay tuned and Happy New Year!

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