Order LR94-5

IN THE MATTER of the Rental of Residential Property Act, R.S.P.E.I. 1988, C. R-13.1,

and

IN THE MATTER of establishing the allowable percentage of rent increase for 1995, pursuant to Section 23.(1) of the Act.

Friday, September 23, 1994

Linda Webber, Chairman
John L. Blakney, Vice-Chairman
James Nicholson, Commissioner
Anne McPhee, Commissioner

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Order

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WHEREAS pursuant to the provisions of Section 23.(1) of the Act the Commission is required to establish the allowable percentage of rent increase for 1995.

AND WHEREAS pursuant to the provisions of Section 23.(2) of the Act, the Director has invited written representations from lessors and lessees to assist in establishing the annual prescribed percentage rent increase. The request was by way of a notice in the printed media.

AND WHEREAS in setting the prescribed percentage rent increase the Commission has considered the following: representations received pursuant to Section 23.(2) of the Act, estimates of the Consumer Price Index, a review of the current industry situation, projected vacancy rates for the province for 1995, an analysis of projected operating expenses, the rent increase allowed last year and the economic conditions on P.E.I.

NOW THEREFORE, pursuant to the Rental of Residential Property Act;

IT IS ORDERED THAT

1. No rent increase shall be allowed for 1995.

DATED at Charlottetown, Prince Edward Island, this 23rd day of September, 1994.

BY THE COMMISSION:

Linda Webber, Chairman
John Blakney, Vice-Chairman
James Nicholson, Commissioner
Anne McPhee, Commissioner