2014 MINTO AGI – UPDATE

As of this date, January 2, 2015, the Landlord and Tenant Board has still not yet contacted the HPTA’s legal representative nor Minto’s legal counsel regarding the 2014 Minto’s application for an AGI (Above Guideline rent Increase).  No file number has yet been assigned to this application.

When this application is processed, the Board will contact all tenants involved with a notice, by Post.

When a hearing date is set, the HPTA and its legal representative will attend the hearing to represent all Minto tenants affected by this 2014 AGI.

Some Reminders 

*The Provincial rate of allowable rent increases for 2014 was 0.80%.

*Minto AGI (reduced by negotiation with the HPTA in 2013): 2.5% – Total rent increase: 3.30%

*The Provincial rate of allowable rent increases for 2015 is 1.6 %.

*2014 Minto AGI: 3.00%.  (The HPTA will negotiate a reduction.)

* The date when an AGI applies to a tenant’s rent depends on the anniversary date of his or her tenancy agreement (“Tenancy Agreement Renewal Date”).

Options – To Pay or Not to Pay

One) Tenants have the option to pay the AGI amounts from the date their Tenancy Agreement is renewed.

If the Landlord and Tenant Board rules in favour of the Minto AGI, these tenants do not owe money to Minto.

If the Board does not agree with the Minto AGI or if the HPTA successfully negotiates an AGI reduction, Minto owes money to tenants.  Usually, Minto applies a credit to the tenants’ accounts.

Two) Tenants decide not to pay the AGI amounts until the Board makes a decision. Tenants, usually, have three months to pay their outstanding AGI amounts to Minto.

In both cases, tenants must pay the Provincial rate of allowable rent increases (0.80% for 2014 and 1.60% for 2015).

Please note: Regardless of the ruling, all tenants affected will receive a notice of ruling from the Landlord and Tenant Board informing them of the decision made at the hearing.

The HPTA also posts the Board’s decision in all laundry rooms.

The Board usually gives both parties three months to pay or repay money owed.