How much can a landlord increase my rent in 2010?

The Ontario government has announced the maximum percentage by which a landlord will be able to raise the rent for most residential tenants (without approval from the Landlord and Tenant Board).

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For most people, buying a home is the most significant investment of their lives. Moreover, in spite of the doubt and confusion clouding both the financial markets and news headlines, there are many genuine real estate opportunities - especially for first-time buyers.

In general, prices are stable and historical data demonstrates that purchasing a home has proven a sound long-term financial investment. However, first-time homebuyers are often understandably anxious when it comes time to making the purchase. We have come up with a simple "do and don't" list to make the process easier for everyone dreaming of homeownership.

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Each year the Ontario Government announces the province's rent increase guideline for the following year. This annual rent increase guideline is the maximum percentage that a landlord in Ontario can increase the rent for an existing tenant without obtaining special approval from the Landlord and Tenant Board.

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Article from The Record, December 15, 2008 - www.therecord.com

A couple of years ago, some landlords would offer a month's free rent, free parking or gift cards to entice new tenants.

Now, apartments in Waterloo Region are snapped up faster than in many other Canadian cities, thanks in part to a young population delaying home ownership, a new report says.

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