A condo or loft unit rented to a long-term tenant is governed by Ontario's Residential Tenancies Act, 2006. The condominium's declaration and rules apply as well, and the tenant must follow them.
The guideline
Ontario sets an annual rent increase guideline. The province lists it as 2.1% for 2026 and 1.9% for 2027 (as of October 16, 2026). Rent can generally increase only once 12 months have passed since the last increase or the start of the tenancy, and the landlord must give at least 90 days' written notice on the proper Landlord and Tenant Board form.
The November 15, 2018 exemption
Units first occupied for residential purposes after November 15, 2018 are generally exempt from the guideline, according to the province. Notice and timing rules still apply to them.
This is where lofts and condos differ sharply. Whether a particular loft or condo unit is covered depends on when that unit was first occupied, not on when the building was built. When buying to rent, ask for evidence of the first occupancy date rather than assuming.
Other points
- The guideline does not limit the rent agreed with a new tenant at the start of a tenancy.
- Tenants can dispute an improper increase at the Landlord and Tenant Board within 12 months of it first being charged.
- Check the declaration and rules for leasing requirements, such as giving the corporation notice of a lease.
- Short stays are a different regime: see short-term rentals.