Area of Law: Landlord and Tenant
Answer # 448
Rent increasesRegion: Ontario Answer # 448
Although there are guidelines in place under the Commercial Tenancies Act, rents are generally determined by market rates and negotiations between the parties. Generally, a landlord and tenant will negotiate the amount of rent and any rent increases, and include the details in the lease. The terms of the lease will overrule any guidelines in the Act. If a landlord wants to raise the rent more than the lease allows, they will have to wait until the lease expires. To protect a tenant from a steep rent increase or eviction, many leases give the tenant the right to renew the lease for a pre-set amount of rent.
For additional information on commercial tenancies, refer to the Ministry of Municipal Affairs and Housing.
Help for Tenants
A criminal record will affect your ability to be approved for a commercial lease. To erase your criminal record, learn more at Pardon Partners. It’s easier than you think.
If you are having financial problems, it may be difficult to rent an apartment or condominium. You can get help to clear your debt and repair your credit. For easy-to-understand debt solutions on your terms, contact our preferred experts 4Pillars and rebuild your financial future. With 60 locations across Canada, they will help you design a debt repayment plan and guide you with compassionate advice. No judgment. For help, visit 4Pillars or call toll-free 1-844-888-0442 .
If you are a Tenant, you can add your monthly rent payment to your credit report using FrontLobby. This can:
- Contribute to improving your credit score (Renters have reported 33pts to 84pts jumps)
- Help establish a positive credit history with a new rent tradeline
- Improve your access to credit related rewards (better bank loans, credit cards, mortgage rates)
Help for Landlords & Property Managers
For legal advice and assistance with a commercial tenancy and applications to the Landlord and Tenant Board, contact our preferred Landlord and Tenant experts Nicola (Nick) Giannantonio Legal Services .
If you are a Landlord or Property Manager, you can report rent payments to Credit Bureaus and screen Tenants using FrontLobby. This can:
- Attract financially responsible applicants interested in building credit with their rent
- Decrease rent delinquencies (Landlords have reported 92% reductions) and recover unpaid rent
- Reduce Tenant turnover and improve monthly cash flow
You now haveoptions: