Order LR99-6

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 2000, pursuant to Sub-section 23. (1) of the Rental of Residential Property Act.

Monday, September 20, 1999

Wayne D. Cheverie, Q.C., Chair
Elizabeth MacDonald, Commissioner
Mary Burge, 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 2000;

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: representation 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 2000, a weighted model of estimated cost components for 1999 and 2000 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 2000 shall be one and one half (1.5) percent.

DATED at Charlottetown, Prince Edward Island, this 20th day of September 1999.

BY THE COMMISSION:

Wayne D. Cheverie, Q.C., Chair
Elizabeth MacDonald, Commissioner
Mary Burge, Commissioner