In terms of The Rental Housing Act:
(6)
“A lease contemplated in subsection (2) must include the following information:
(a)
…
(b)
…
(c)
The amount of rental of the dwelling and
reasonable escalation
, if any, to be paid in terms of the lease;”
The tenant and landlord can agree on the period of the lease (fixed term or monthly) and reasonable escalation. The
escalation is not limited to a per cent of the rent or time period (ie: 6 monthly or 12 monthly) – the limitation
is the “reasonableness”
Please see TPN's
video on the Unfair Practises for more information.