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New Brunswick Rent Increase 2023
Get a clearer view of your 2023 rental income with SingleKey’s summary of New Brunswick’s latest rent increase guidelines.
What’s New For 2023
There is no limit on rent increase in New Brunswick for 2023. If the landlord provides the tenant with at least 6 months of proper written notice, they can increase the rent on a residential rental unit to market price.
Rules For Increasing Rent
The landlord must give at least 6 months of written notice of the rent increase before it takes effect and can only increase rent once in a 12-month period.
In most cases, the rent for a residential unit can be increased 12 months after:
- The last legal rent increase
- The start date of tenancy
Rent Increase Notice Guidelines
To be effective, a rent increase notice must include:- The name and contact details of the landlord
- The address of the rental unit
- The current rent amount
- The new rent amount proposed
- The date when the increase will take effect
- The date and signature of the landlord
Don’t forget, if you do not give proper notice to the tenant before attempting to increase the rent, your tenant can dispute the increase.
Resolving Issues About Rent Increase
In the case where a tenant wants to object to the landlords’ rent increase, they would have to file for a review within 30 business days of receiving the notice to dispute the increase. The tenant has to complete the Application for Assistance to the Residential Tenancies Tribunal and also include a copy of the notice of rent increase received from the landlord.
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- info@singlekey.com
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- 42 Carden Street, Guelph, ON, N1H 3A2, Canada
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, rated A+ by A.M. Best. Coverage is offered in the form of a surety performance bond. SingleKey is a participating member of Protected Cell Captive insurance company that is one hundred percent reinsured within the Lloyd’s Market rated A+ by A.M. Best.
, rated A+ by A.M. Best. Coverage is offered in the form of a surety performance bond. SingleKey is a participating member of Protected Cell Captive insurance company that is one hundred percent reinsured within the Lloyd’s Market rated A+ by A.M. Best.