The 2024 Rent Increase Guideline (RIG) has been set at 2.5 per cent.
The RIG is based on the Ontario Consumer Price Index (CPI), a measure of the inflation of the prices of all goods and services in the provincial economy. The RIG is the maximum amount that most landlords can increase a tenant’s rent without making an application to the Landlord and Tenant Board.
For projects developed under the Affordable Housing Program, rents may be increased by the RIG, but only if the increased rent does not exceed the CMHC Average Market Rent (AMR) for each unit type. Effectively, Affordable Housing Program rents may be increased to the lower of the RIG increased rent, or the AMR.
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