P.E.I. rents may rise up to 1.5% in 2017

P.E.I.'s Island Regulatory and Appeals Commission has set the allowable rent increases for 2017.

Rents may go up a maximum of 1.5 per cent. That applies to all three categories of rental properties: heated, unheated, and mobile home sites.

In making the decision IRAC says it considered written submissions, as well as vacancy rates and the economic outlook for the province.

In 2016 IRAC ruled rents could not be increased at all.

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