Landlords limited to 1% rent increase in 2022
CBC
The Prince Edward Island Regulatory and Appeals Commission has set the maximum allowable annual rent increase at one per cent effective Jan. 1.
The one per cent increase can be applied to heated and unheated premises, as well as mobile homes located in a mobile home park, IRAC said in a news release issued Tuesday.
Each year, the director of the Office of Residential Rental Property seeks written submissions on the allowable annual rent increase from tenants, landlords, and members of the public. This year, 46 submissions were received from 37 landlords and nine tenants.
The allowable rent increase is based on the 2021 Consumer Price Index, which was reviewed from July 2020 to July 2021. Components of the CPI considered by the commission include shelter, rented accommodations, owned accommodations, and the cost of maintenance and repairs. Other costs considered include furnace oil, electricity, water and sewer rates, insurance, property taxes, maintenance costs, rates for waste collection, and interest rates.
Under the Rental of Residential Property Act, landlords are permitted to raise the rent once every 12 months and are required to provide tenants with three months' written notice on an approved form before the rent increase can take effect. Rent increases are attached to the unit, and apply whether there is a new tenant or not.
If a tenant rents a unit beginning September 1, 2021, the date of the first allowable increase is September 1, 2022, provided the tenant received three months' written notice on an approved form.
After nearly three months out of service, MV Confederation could begin operating between P.E.I. and Nova Scotia again as early as Dec. 2, as long as final steps go according to plan.
If a sport or activity isn't competitive, Liza Puri, 48, wants no part in it.
There's stiff competition among prospective home buyers in the St. John's region because the number of listings are unusually low and demand is surging.
Strong attendance and record sponsorship at the Northern Ontario Tourism Summit in North Bay is a good sign the industry is recovering from the impacts of the COVID-19 pandemic, says Destination Northern Ontario.
A group of Halifax residents is asking the Nova Scotia Supreme Court to look at a provincial decision to greenlight a controversial Fall River development.
Parkside Drive is closed in both directions following reports of a sinkhole, Toronto police say.
The Quebec government will present its fall economic update today.
Aggressive patients and lack of security are making nurses feel unsafe in a rural Western Manitoba emergency union, says the Manitoba Nurses Union.
Saskatoon resident Delynne Bortis knew her commute to work Tuesday morning would be particularly difficult.
WARNING: This story contains details of abuse and intimate partner violence:
The amount of money it takes for people to earn a living wage has increased across the province, according to a new report from the Canadian Centre for Policy Alternatives (CCPA).