The rental increase guideline, which dictates how much a landlord can raise rent in a given year, doesn’t apply to all renters.
What most people don’t know (including myself until yesterday) is that this guideline only applies to buildings built before November 1991. So if you’re a renter living in or moving into a building constructed after 1991 you should be aware that your landlord has the right to increase the rent on your unit by whatever amount he or she deems fit. They’re still limited to once-per-year increases, but the amount is completely up to them.
The guideline for 2012 is 3.1% – details can be found in the governments official release
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