LR14-25

Appeal · rent increase. Outcome: outcome pending review.

Order text

Order LR14-25 - Rental - Allowable Percentage Rent Increase for 2015 Order LR14-25 IN THE MATTER of establishing the allowable percentage rent increase for 2015, pursuant to subsection 23(1) of the Rental of Residential Property Act , R.S.P.E.I. 1988, Cap. R-13.1. BEFORE THE COMMISSION on Wednesday, the 24th day of September, 2014. J. Scott MacKenzie, Chair M. Douglas Clow, Vice-Chair John Broderick, Commissioner Order WHEREAS pursuant to the provisions of subsection 23(1) of the Rental of Residential Property Act , the Commission is required to establish the allowable percentage of rent increase for 2015; AND WHEREAS pursuant to the provisions of subsection 23(2) of the Act , the Director of Residential Rental Property placed a notice in the printed media inviting written representations from lessors and lessees to assist in establishing the annual prescribed percentage rent increase; AND WHEREAS in setting the prescribed percentage rent increase the Commission has considered the following: representations received pursuant to subsection 23(2) of the Act , the vacancy rates for the province, a review of the economic outlook for the province, a review of the Consumer Price Index forecasts for 2005 to 2014 and previous allowed rent increases; AND WHEREAS the Commission recognizes that the price of heating residential premises increased in 2014 over year-end 2013 prices and the price of heating fuel is anticipated to continue at, or slightly above, current levels; AND WHEREAS the Commission has concluded that separate levels of the maximum rate of rent increase is appropriate for 2015 for heated residential rental premises, unheated residential rental premises and for the rent of a mobile home site in a mobile home park; AND WHEREAS having taken into consideration the foregoing factors, calculations, submissions and projections the Commission has determined the following maximum allowable rent increases to be justified; NOW THEREFORE , pursuant to the Rental of Residential Property Act : IT IS ORDERED THAT 1. The maximum allowable percentage rent increase for 2015 for heated premises shall be 1.75 percent; 2. The maximum allowable percentage increase for 2015 for unheated premises shall be 1.0 percent; and 3. The maximum allowable percentage rent increase for 2015 for a mobile home site only in a mobile home park shall be 1.0 percent. DATED at Charlottetown, Prince Edward Island, this 24th day of September, 2014. BY THE COMMISSION : J. Scott MacKenzie, Chair M. Douglas Clow, Vice-Chair John Broderick, Commissioner Click here for Summary Report & Analysis Allowable Percentage Rent Increase for 2015