Toronto Renters Forum
Common Tenant Problems => Above Guideline Rent Increases => Topic started by: Richard on September 02, 2022, 11:36:45 am
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This is important! Not everyone knows that Above Guideline Rent Increases only last for a certain length of time (prescibed by the Landlord and Tenant Board when they award an AGI to a landlord), and after that time the rents are decreased by the same amount.
So for example, if you receive an AGI for 1.75% (which applies in addition to any regular annual rent increases you will receive) for 12 years, then after twelve years your rent will decrease by 1.75%.
Note, however, that typical landlords are not predisposed to lower your rent on their own (if you don't know about this rent lowering, or forget about the AGI because it happend so long ago), and if you continue to pay the higher rent for a full year, then you lose the right to have your rent lowered.
A real-life example of this is 111 Lawton Blvd, here in Toronto. These renters have received three AGIs over the last 15 years or so, but those rent increases are about to come off their rents. (Thank goodness these renters are organised, and know the rules!) Here's a link to their blog 111 LAWTON BLVD. ABOVE GUIDELINE RENT REDUCTIONS - AKELIUS CANADA LTD. (https://akeliuscanadatorontotenants.blogspot.com/2022/07/111-lawton-blvd-above-guideline-rent.html)