Every year the government sets a maximum rent increase percentage for the upcoming year. It's called a guideline, but you can't really colour outside the lines. Next year it’s 2.5%, but it doesn’t apply to all rental properties.
As of March 30, 2022, the Government of Ontario has increased the Non-Resident Speculation Tax on real estate from 15% to 20%, and it now applies across the entire province. Here’s what that change means.