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Summarized by RentZenLast updated: July 26, 2024
120 Oriole Parkway, Toronto, ON M5P2G8
Decision in favor of
landlord
Balance Owed
-
Agree with the ruling?
Order Date
Oct 21, 2020
The Landlord applied for an order to increase the rent charged by more than the guideline due to capital expenditures. No submissions were received from the Tenants.
The Landlord justified a rent increase above the guideline because of capital expenditures. The maximum rent increase above the guideline is 4.08% for the capital expenditure of elevator modernization. The weighted useful life for the capital expenditure is 15 years.
The Landlord may increase the rents charged by 4.08% for the affected units, with 3% increase from February 1, 2019 to January 31, 2020, and 1.08% increase from February 1, 2020 to January 31, 2021. The rent will be reduced after the expiration of the 15-year weighted useful life for the capital expenditure.
LTB Member
20
90.0%
5.0%
5.0%
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