How much rent can a landlord charge a new tenant?
The Residential Tenancies Act allows a landlord and tenant to negotiate the rent at the beginning of the tenancy agreement. Since rent control was ended in the 1990s essentially the price of a new rental (a new agreement) is determined by the free market – whatever the landlord can get. Fortunately once the tenant moves in, the rent will not increase for the next twelve months. When the rent does increase, it can only increase by the rent control guideline for the year in which the increase take effect. In some cases, the landlord may have made an application for an above guideline increase or the landlord and the tenant have agreed to a higher increase because of unit-specific capital expenditure work.
Related Questions
- Can a landlord charge a fee if a tenants rent cheque is returned because of non sufficient funds (N.S.F.) in the tenants account?
- Can a landlord charge a fee if a tenants rent check is returned because of non sufficient funds (N.S.F.) in the tenants account?
- How much rent can a landlord charge a new tenant?
