Landlord/tenant rights, dealing with problems, where to get help...
Rent Increase
|
soulpower Posts: 1
Posted On: 12/29/2014
|
What is the legal percentage can be increased by a Landlord for a Commercial rental annually if I'm paying $240.00 per month for a space in their building.
H. McDonald
|
|
|
link
|
|
Moderator Moderator Posts: 4142
Posted On: 12/30/2014
|
Hello H.McDonald,
Thank you for sharing your question and situation with us.
According to the Ministry of Municipal Affairs and Housing website in the Commercial Tenancies Act - What you need to know section,
Rent Increases
Most commercial tenancy agreements outline in detail issues such as the amount of rent charged and frequency of rental fee increases.
In the event that there isn’t a current tenancy agreement, the landlord may increase the rent by any amount at any time.
The Act does not regulate rent increases.
- Note
Landlords should always consider giving a tenant a reasonable notice of a rent increase in writing.
You can also find some information in the Frequently Asked Question section.
Here is an excerpt,
If a tenant does not have a lease and the landlord increases the rent, does the tenant have to pay the increased rent if the tenant decides to end the tenancy?
No, the tenant can give proper notice that he/she intends to leave, and pay the original rent for the final month.
If you have any additional questions that are specific to your situation, you may want to contact the Ministry of Municipal Affairs and Housing directly.
I hope this information is helpful. Please let us know if you have further questions and if there is any follow up to your question/situation.
=====
Anna
Settlement.Org Content and Information/Referral Specialist, CIRS
Settlement.Org
|
|
|
link
|