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Rent reduction and rent increase

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  • Aug 13th, 2017 1:36 pm
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[OP]
Deal Addict
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Feb 10, 2007
2655 posts
275 upvotes

Rent reduction and rent increase

If there was a rent reduction, is a subsequent rent increase applied to the original agreed to rent or the rent after reduction?
Also, if an application is filed with the Board to vary the amount of rent reduction, which increase should it be applied to then while the decision is still being made?

For example,
Original agreed to rent: $1200
City of Toronto rent reduction notice due to property tax reduction: 2%
Therefore the new rent would be = $1200 - 24 = $1176

Rent increase: 1%
So my question is, should the 1% be applied to $1200 or $1176?
BlackJays wrote:
Mar 13th, 2010 6:02 pm
shame has been acheived
4 replies
Deal Guru
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Mar 8, 2002
10487 posts
2131 upvotes
GTA
It's 50 cents, don't worry about it
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Deal Expert
Aug 2, 2004
25881 posts
2881 upvotes
East Gwillimbury
Hugh Jass wrote:
Aug 13th, 2017 12:56 pm
It's 50 cents, don't worry about it
Eh? A 1% increase would be $12 or $11.76. The difference is 0.24 cents.
Deal Guru
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Mar 8, 2002
10487 posts
2131 upvotes
GTA
Gee wrote:
Aug 13th, 2017 12:58 pm
Eh? A 1% increase would be $12 or $11.76. The difference is 0.24 cents.
Haha yeah, in a hurry, wasn't thinking. Doh.
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