Order LR01-10 - Allowable Percentage Rent Increase for 2002 (Sep. 17, 2001)

Order LR01-10

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

and

IN THE MATTER of establishing the allowable percentage rent increase for 2002, pursuant to Sub-section 23.(1) of the Rental of Residential Property Act.

BEFORE THE COMMISSION

on Monday, the 17th day of September, 2001

Ginger Breedon, Chair
Maurice Rodgerson, Vice-Chair
James Carragher, Commissioner

Order

WHEREAS pursuant to the provisions of Sub-section 23. (1) of the Act, the Commission is required to establish the allowable percentage of rent increase for 2002;

AND WHEREAS pursuant to the provisions of Sub-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, which 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 Sub-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 forecasts for 2002, a weighted model of estimated cost components for 2001 and 2002 and a comparison over the past eight years of the rent increases allowed, the increase in the consumer price index and the increase of weekly wages and salaries.

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

IT IS ORDERED THAT

1. The allowable percentage rent increase for 2002 shall be two and one quarter (2.25) percent.

DATED at Charlottetown, Prince Edward Island, this 17th day of September, 2001.

BY THE COMMISSION:

Ginger Breedon, Chair
Maurice Rodgerson, Vice-Chair
James Carragher, Commissioner

NOTICE

Section 12 of the Island Regulatory and Appeals Commission Act reads as follows:

12. The Commission may, in its absolute discretion, review, rescind or vary any order or decision made by it or rehear any application before deciding it.

Parties to this proceeding seeking a review of the Commission's decision or order in this matter may do so by filing with the Commission, at the earliest date, a written Request for Review, which clearly states the reasons for the review and the nature of the relief sought.

Sections 13.(1) and 13(2) of the Act provide as follows:

13.(1) An appeal lies from a decision or order of the Commission to the Appeal Division of the Supreme Court upon a question of law or jurisdiction.

(2) The appeal shall be made by filing a notice of appeal in the Supreme Court within twenty days after the decision or order appealed from and the Civil Procedure Rules respecting appeals apply with the necessary changes.