Real Estate

Procedures for increasing annual rent

  • Last Updated:
  • Jan 1st, 2018 5:15 pm
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[OP]
Deal Addict
Feb 9, 2013
1806 posts
776 upvotes
Mississauga

Procedures for increasing annual rent

I have a tenant living in basement upcoming 1 year soon. What is the procedures for increasing annual rent? 2018 I believe is 1.8% and in Mississauga area
2 replies
Deal Fanatic
User avatar
Dec 24, 2002
6160 posts
1160 upvotes
I think you advise them in writing at least 90 days before the increase is due to come into effect. Simple letter advising if this and saying all other terms remain the same...keep a record of when you advised and a copy of the letter. ( Think that's it )
http://www.heatware.com/eval.php?id=14378
Ole Gunnar IN!!!!
I promise not to cut your taxes but I won't raise them either.
Deal Addict
User avatar
Sep 4, 2005
2912 posts
675 upvotes
Toronto
Because you're in Ontario:
http://www.sjto.gov.on.ca/documents/ltb ... ons/N1.pdf

I don't know what your relationship is with them, but sometimes it makes sense to send it via registered mail, so that they have to sign for it and you have a receipt of them picking up the mail. There are stories of "I never got the letter" even though you handed it to them.

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