All about rent increases

The real estate industry is governed by many laws and organizations. No one can do as they please! For this reason, it is important to learn about the criteria that regulate the activities of property owners and managers.

Lease, renewal notice, increase notice, RL-31 slips… these are all documents that must be drafted according to the rules of the art, following very strict prescribed scales. 

The famous rent increase

When a lease expires, a landlord is fully within his or her rights to ask for an increase in the monthly rent that he or she considers reasonable. However, the landlord must mention this in the notice he gives to the tenant. The tenant then has the option of accepting or refusing the increase. The tenant has one month after receiving the notice to inform the landlord of his or her decision. 

Tools to find an agreement

In order to assist parties in reaching an agreement on rent increases, the Rental Administration Tribunal has made available to the public a rent increase calculation tool. This calculation is done using the scales in the Rent Determination Criteria Regulation.

To reach an agreement, the landlord can then present and discuss the results with the tenant. 

What happens if the two parties disagree?

In the event that the two parties cannot agree on the rent increase (or any other change to the lease), the landlord must, within one month of the tenant’s response, apply to the Rental Administration Tribunal for what is called a Lease Amendment Application. This application to the TAL allows the TAL to set the rent or decide on the desired change.

In order to set a reasonable price, the TAL provides the landlord with an Information Form necessary to set the rent. The landlord then enters all the necessary information on the form and sends it to the LET.

In order to set a reasonable price, the TAL provides the landlord with an Information Form necessary to set the rent. The landlord then enters all the necessary information on the form and sends it to the LET.

The role of Bail Expert

And now you are wondering: what is the role of Bail Expert in all this?

With Bail Expert, you can create your rent increases and renewal notices in a few clicks. Avoid long and tedious transcription by choosing our predefined letter templates. The information stored in the software allows you to fill in personalized fields in your letter templates, thus creating letters that are compliant and configured according to the information of each of your tenants. 

Notices written and sent quickly, in just a few clicks!