P.E.I. renters will see no increase in 2016

There is good news for renters on P.E.I. today.

The Island Regulatory and Appeals Commission has set the allowable percentage rent increase for 2016 at zero.

This applies to heated and unheated premises and mobile home park sites.

In making its decision, the commission considered the vacancy rate for the province, the economic outlook for P.E.I. and a review of the consumer price index forecasts for 2006 to 2015.

The commission also looked at previous allowed rent increases.