Wednesday, August 3, 2011

Rent Hikes Promised

The Liberals say they'll change the way Ontario's rent increase rate is set if they're re-elected this fall.

Landlords will be able to increase tenants' rents by 3.1 per cent in 2012 -- up from the 2011 rate of 0.7 per cent.

The rate is currently tied to the Consumer Price Index, which is calculated annually by Statistics Canada.