Tenants in P.E.I. may soon be paying a little more for rent after the Island Regulatory and Appeals Commission recently approved increases for 2014.
Starting Jan. 1, 2014, landlords will be allowed to increase rent for heated premises by two per cent, while rent for unheated premises and mobile homes in trailer parks can go up by one per cent.
In its report on the increases, IRAC said it considered submissions from the public, the vacancy rates in P.E.I., the province’s economic outlook, consumer price index forecasts and previous allowed rent increases.
The commission said it recognized that heating costs increased in 2013 and the price for heating fuel is expected to stay the same or increase.
IRAC also said it received eight submissions from tenants, one from a landlord and one from anti-poverty group Alert.