Minto – A.G.I. UPDATE

FOR MINTO TENANTS AFFECTED BY THE 2013 A.G.I.*

 At the hearing, on November 13, 2013, and after negotiations between The HPTA and Minto, the following AGI rate was adopted: 2.50% instead of 3.00% asked by Minto.  Minto was not willing to negotiate more to further reduce this AGI.

 Minto tenants, therefore, will pay a rent increase of 5.00 % for the year 2013:

                        2.5% (Provincial rate) + 2.5% (Minto AGI).

You will receive the order stating this from the Landlord and Tenant Board.  Tenants and Minto have 120 days from the date of issuance of the order to pay or reimburse what they owe each other.

This means, if you had paid the 5.50 % (2.5% + 3.00 %), Minto owes you money.  If you had not paid the 5.5%, you owe Minto money.  Calculate the amount yourself, from the anniversary date of your lease (date your lease is renewed).

In the past, Minto has communicated with tenants affected by AGIs.

Please note: If Minto owes you money, you will not receive cash. A credit will be applied to your rent.

*A.G.I.: Above Guideline Increase