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Rent Control

RENT CONTROL IS NOT THE ANSWER

Posted in Newsworthy, Rent Control, Rental Rates

RENT CONTROL IS NOT THE ANSWER

Halifax is booming, which is a blessing and a curse. Even before the pandemic, population growth was straining the housing supply. I’ve lost count of the number of times I’ve heard “vacancy rates on the peninsula are less than one per cent.” Understandably, many Halifax residents are concerned and feeling the stress of high and increasing rents. Calls for rent control are getting louder and gaining traction. Last week, two Liberal Party leadership candidates in Nova Scotia, Labi Kousoulis and...

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NO RENT INCREASES IN B.C. UNTIL AT LEAST JULY 2021

Posted in Bylaws / Regulations, Coronavirus, Industry Trends, Newsworthy, Rent Control, Rental Rates

NO RENT INCREASES IN B.C. UNTIL AT LEAST JULY 2021

The province of B.C. says it is taking steps to ensure ongoing housing security for renters who might be facing financial challenges due to COVID-19 pandemic health regulations. In a statement, the province said it is extending the freeze on rent increases until July 10, 2021, under the powers of the Emergency Program Act and COVID-19 Related Measures Act. It said it is an “interim measure” to provide stability and advance notice for renters and landlords, while the newly formed...

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INVESTMENT PROPERTY OWNERS ASSOCIATION SAYS RENT CONTROL DOESN’T WORK

Posted in Affordable Housing, Association News, Housing, Industry Trends, Newsworthy, Rent Control

INVESTMENT PROPERTY OWNERS ASSOCIATION SAYS RENT CONTROL DOESN’T WORK

The Investment Property Owners Association of Nova Scotia says rent control is not the solution to HRM’s lack of affordable housing. Kevin Russell is the group’s executive director, and tells News 95.7’s the Todd Veinotte Show, research around the world shows rent control doesn’t work. “It stifles investment in investment properties for residential units… and when rent control is in a jurisdiction investors pull out and move to another jurisdiction and this...

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RENT CONTROL IS BAD FOR RENTERS, BUT GOOD FOR POLITICIANS

Posted in Housing, Newsworthy, Rent Control, Rental Rates

RENT CONTROL IS BAD FOR RENTERS, BUT GOOD FOR POLITICIANS

Rent Control as a Means of Buying Votes Ontario’s modern history of rent control legislation began during the 1975 election campaign, when it was actively promoted by the New Democratic Party (NDP). This was the stagflation era, and the NDP conveniently ignored Canadian monetary policy as a major contributing factor to price inflation—7.8 percent in 1973, 11 percent in 1974, 10.7 percent in 1975—including higher rents, preferring instead to talk about “horror stories of individuals and bad...

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TORONTO TENANTS RENT INCREASES AFTER $100 GIFT CARDS HANDED OUT FOR LOCKDOWN HARDSHIPS

Posted in Coronavirus, Newsworthy, Rent Control, Rental Rates

TORONTO TENANTS RENT INCREASES AFTER $100 GIFT CARDS HANDED OUT FOR LOCKDOWN HARDSHIPS

Early in the COVID-19 lockdown, a Toronto apartment rental company was praised for offering $100 grocery gift cards to tenants and donating funds to local charities. In addition to the generous donations, Greenrock Real Estate Advisors also offered flexible rent payments when many laid-off residents worried about making April 1 rent payments. So it came as a surprise when some Greenrock tenants in 40 and 50 Alexander Street and 55 Maitland Street learned they owed a lump sum of more than...

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RENTAL SECTOR NAVIGATES PERILOUS TIMES

Posted in Coronavirus, Housing, Industry Trends, Newsworthy, Rent Control, Rental Rates, Vacancy Rates

RENTAL SECTOR NAVIGATES PERILOUS TIMES

It’s been a year fraught with uncertainty and challenges for landlords and tenants, and it’s far from over. The data has yet to come in on the exact vacancy rates, or the number of tenants who haven’t been able to pay rent since the pandemic began. And the landscape changes yet again as government lifts a ban on evictions and rent increases. As of Sept. 1, landlords were able to evict tenants for failure to pay rent. And on Dec. 1, the freeze on rent increases will be lifted, which means many...

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STEEP INCREASES STIR UP CALLS FOR RENT CONTROL IN NOVA SCOTIA

Posted in CMHC, Industry Trends, Rent Control, Rental Rates

STEEP INCREASES STIR UP CALLS FOR RENT CONTROL IN NOVA SCOTIA

Amber Lane’s living expenses jumped on Sept. 1. She wasn’t shocked when her landlord slipped a notice of rent increase under her door about four months ago. The cost of her two-bedroom apartment in north-end Halifax has risen several times over the past 11 years, but until this year, the changes had been incremental. “I do understand that the cost of living does go up, but before it was always reasonable, say $25, $50 a year.” At the start of this month, her rent...

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BRITISH COLUMBIA 2020 AND 2021 RENT INCREASES: WHAT YOU NEED TO KNOW

Posted in Bylaws / Regulations, Coronavirus, Industry Trends, Media Releases, Newsworthy, Rent Control, Rental Rates

BRITISH COLUMBIA 2020 AND 2021 RENT INCREASES: WHAT YOU NEED TO KNOW

2020 Rent Increase: 2.6% 2021 Rent Increase: 1.4% 2020 Rent Increases Rent Increase Notices served in December 2019 would have had an effective date of April 1, 2020. In late March there was a Ministerial Order which delayed these increases and any future increases to the end of the Provincial State of Emergency. Through a change to the Residential Tenancy Regulations, this new effective date was changed from the end of State of Emergency to December 1, 2020. This change means that any rent...

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ONTARIO GOVERNMENT SAYS IT WILL BRING FORWARD LEGISLATION TO FREEZE RENT IN 2021

Posted in Coronavirus, Industry Trends, Legislation, Media Releases, Newsworthy, Rent Control, Rental Rates

ONTARIO GOVERNMENT SAYS IT WILL BRING FORWARD LEGISLATION TO FREEZE RENT IN 2021

The Ford government says that it will bring forward rent control legislation so that the “vast majority” of tenants do not face increases in 2021. Under existing legislation rent increases on units that had not been previously occupied prior to November, 2018 are capped, roughly at the rate of inflation. The maximum allowable increase this year was supposed to have been 1.5 per cent but on Friday afternoon a spokesperson for Minister of Municipal Affairs and Housing Steve Clark confirmed that...

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GOVERNMENT IS WHY HOUSING IN CANADA IS UNAFFORDABLE AND MORE TAXES WON’T HELP

Posted in Affordable Housing, CMHC, Development, Housing, Industry Trends, Newsworthy, Rent Control, Rental Rates, Tax Law

GOVERNMENT IS WHY HOUSING IN CANADA IS UNAFFORDABLE AND MORE TAXES WON’T HELP

The Canada Mortgage and Housing Corporation (CMHC) is giving $250,000 to Generation Squeeze, an advocacy organization for young Canadians, to research ways to improve housing affordability. The group stated it will focus on “wealth generated by rising home values,” which incited fears the government is considering a home equity tax on the capital gains generated when Canadians sell their homes. But more taxes won’t increase affordability. If the government really wants to know why housing is...

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