Ontario caps rent increases below the rate of inflation

The Ontario government announced a rent increase cap of 2.5% for 2023, significantly lower than the 5.3% that landlords would normally be able to raise rent due to the high rate of inflation. This cap will apply to approximately 1.4 million rental units covered by the Residential Tenancies Act, but not to rental units occupied for the first time after November 15, 2018, vacant residential units, community housing, long-term care homes or commercial properties.

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