How Much Can My Rent Be Raised?

By: Ross Bridges

How Much Can My Rent Be Raised?

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Renters often wonder "How Much Can My Rent Be Raised?". The annual maximum rate which landlords are allowed to raise your rent is established by the government, not your landlord. The current rate in effect for 2021 is a maximum of 1.5% of your current rent (to calculate, simply multiply your current rent by 1.5%, for example $1000/month x 1.5% = $15 per month increase ). If you are renting, it is good to know your rights and responsibilities as a tenant, as well as those of your landlord. Tenants who pay their rent on time are establishing good credit, a necessary step in the path to home ownership. Contact our experienced team when you are ready to enter the housing market!

Watch more of the Rambling REALTORS® with Rambling REALTORS®, Ross Bridges, REALTOR® and Andrew Roach, REALTOR®. here Watch the FULL Eposide: If you have to rent don't do it for long.  But here's some insight. 

Preparing to buy a home means making sure your finances are in order, check out this blog for more information: Financial Consistency! Give us a  CALL at 905-220-1848 to discuss your financial readiness and prepare to look for your future home!

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