The maximum allowable rent increase in PEI for 2024 was announced on Monday by the Director of Residential Tenancy for PEI. Effective January 1st of 2024, landlords can raise the rent by three per cent on all rental units, heated or unheated. They can also apply to the Island Regulatory and Appeals Commission for an additional three per cent increase. To gain approval for the additional three percent, the landlords would have to present and argue their case as to why that additional three percent is necessary.
