Rent Increase Rules In Ottawa

Are the thoughts of rent increases keeping you awake at night? 😟

My name is Greg Hamre from RE/MAX Affiliates in Ottawa and the Hamre Real Estate Team. 🏡

We've got clients that we're working with who are looking at a short-term rental, meaning less than five years. 📆 And they're eyeing a newer condo building just on the fringe of Ottawa—built recently, so it's not protected by the rental control board. 🚧 Rent increases for a two-bedroom in that building are anywhere from $2,000 to $5,000 for a two-bedroom. 💸 The second year sees a $400 increase, and the third year, an $800 hike.

That's a lot of money that could be put into the equity of your home.

Renting over buying? Buying allows you to have control over your lifestyle—when you want to move, how, and where. 🏡 Secondly, you're building equity for your future wealth.

💰 Lastly, you have control over the color of the rooms, countertops, the deck—whatever makes your lifestyle cozy for you. 🎨

The flexibility of homeownership outweighs renting in the long term. In the short term, we understand that it may be an option for you.

🤔 It all depends on your lifestyle and needs. But whatever it is, we want to be a part of it. 🤝 We can assist you on your journey, making sure it's a successful one, and that you're happy with your lifestyle.

My name is Greg Hamre from RE/MAX Affiliates, and the Hamre real estate team. If we can chat about this, please reach out to us. We hope to see you soon. 🌟 Take care.