I have a rental coming up on one year in September, and am ready to serve an N1 for rent increase on September 1 (their one year anniversary of occupancy).
Wording on the N1 is "A landlord may increase the rent if at least 12 months have passed since the last rent increase or since a new tenant moved into the unit." I don't want to go through the hell that is the LTB right now, so I'm trying to make sure I have all my ducks in a row...
Does this wording mean that you can increase rent on the anniversary date of the rental (every 365 days), or a year and a day after the last rent increase (every 366 days), or one year and one month after the last increase?
I've been doing this for 7 years and I've never been sure what the period actually is.