Order LR95-10

 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 rent increase for 1996, pursuant to Section 23.(1) of the Rental of Residential Property Act.

Friday, September 8, 1995

Linda Webber, Chair
John L. Blakney, Vice-Chair
Anne McPhee, Commissioner
Emmett Kelly, Commissioner
Carl Riggs, 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 1996;

AND WHEREAS pursuant to the provisions of Section 23.(2) of the Act, the Director of Residential Rental Property 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: representation received pursuant to Section 23.(2) of the Act, the vacancy rates for the province, a review of the economic outlook for the province, a review of the Consumer Price Index, operating expenses of lessors, and the rent increases allowed for the past several years;

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

IT IS ORDERED THAT

1. The allowable percentage rent increase for 1996 shall be two (2) percent.

DATED at Charlottetown, Prince Edward Island, this 8th day of September, 1995.

BY THE COMMISSION:

Linda Webber, Chair
John L. Blakney, Vice-Chair
Anne McPhee, Commissioner
Emmett Kelly, Commissioner
Carl Riggs, Commissioner