According to the Residential Rental Property Division, landlords are allowed to raise the rent for heated premises by 1.75 per cent, and 1.5 per cent for unheated premises and mobile homes located in mobile parks.
The allowable rent increases are in effect for the period of Jan. 1 to Dec. 31, 2018.
POLL: What do you think of IRAC's 2018 rent increases?
Last month, the Residential Rental Property Division was seeking written input from landlords, tenants and the public regarding allowable rent increases.
In 2017, IRAC approved rent increases of 1.5 per cent for heated and unheated premises as well as mobile home sites. The previous year, no percentage increase was allowed.
Some of the factors generally involved in determining if a rent increase is allowed include the consumer price index, heating oil and electricity costs, the vacancy rate and operating costs.
