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Everything About Rent Increases and Reductions
Everything About Rent Increases and Reductions
We previously went over certain aspects of rent that tenants should be aware of including: how rent price is set, what services it covers, payment methods, rent deposits, and rent receipts.
Ottawa,
Ontario,
Canada
(prbd.net)
08/10/2010
"We previously went over certain aspects of rent that tenants should be aware of including: how rent price is set, what services it covers, payment methods, rent deposits, and rent receipts."
We previously went over certain aspects of rent that tenants should be aware of including: how rent price is set, what services it covers, payment methods, rent deposits, and rent receipts. Another aspect of renting that tenants should be aware of is the fact that a rent can change if circumstances permit.
Tenants should be aware of the following:
Rent can increase. A landlord can increase rent, but usually only after a tenant has been living in the residence for a period of 12 months. The landlord must first give written 90-day notice to the tenant. Rent increases can occur in the following situations:
- Yearly increase set by the Ontario Government. The Landlord and Tenant act must approve any increase beyond that unless agreed upon between the landlord and tenant.
- Significant increase in municipal taxes, charges, or utilities has occurred.
- Major repairs or renovations have been done.
Rent can be reduced. There are certain situations where the landlord is required to decrease rent. This includes situations where utility costs have gone down significantly or municipal property tax is reduced by more than the prescribed percentage.
Ottawa apartments rent also you can reduce with discuss your Ottawa agents.
Tenants can apply for rent reductions: this usually occurs if municipal taxes or charges on the property decrease, when a landlord removes a service that was previously provided, or the conditions upon which a landlord increased rent above the guideline are not met.
Note for Editor:
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CLV Group Ottawa - Your Full Service Real Estate Provider. Choose Ottawa Apartments For Rent & Townhomes for Rent from over 7200 units of CLV Group.
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