We are fortunate to have seen the rental market rebound from the 2020-2021 lows to its current pre-Covid-19 levels for the most part. In Ontario, the residential tenancy rules allow landlords to increase rent once in 12 months with a minimum of 90 days written notice. However, such increases to rent must be made in accordance with the government approved guidelines (1.2% in 2022 and 2.5% in 2023), assuming the rental property is subject to rent control or not. Exempted properties are properties that generally were built after November 15, 2018. For more read on this topic here is the link. Our team keeps a pulse on market rents daily and 120 days prior to the anniversary of your property’s lease we review your actual rent versus market rent and determine what the increase should be. For rent controlled properties we are limited to the government approved guideline increases. However, we always catch up with the market when a new lease is signed regardless of what the rent of the previous tenant was.