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Rent Control

LANDLORDS’ GROUP QUESTIONS IRAC FORMULATION OF ALLOWABLE RENT INCREASE

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

LANDLORDS’ GROUP QUESTIONS IRAC FORMULATION OF ALLOWABLE RENT INCREASE

The executive director of the Residential Rental Association of P.E.I. wants to talk to the Island Regulatory and Appeals Commission about how it set the maximum allowable rent increase for 2022. IRAC announced Tuesday that the increase would be one per cent for both heated and unheated units, but Cecil Villard said that doesn’t match up with current inflation. “A one per cent increase in no way really responds to the costs that landlords will incur over the next year, when you...

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2022 RENT INCREASE CAPPED AT 1.5% IN B.C.

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

2022 RENT INCREASE CAPPED AT 1.5% IN B.C.

With the province-wide pandemic rent freeze set to expire at the end of the year, the government has announced that landlords cannot raise rents by more than 1.5 per cent for 2022. The maximum allowable increase is tied to inflation and was released by the Attorney General and Ministry responsible for Housing on Wednesday. Any rent hike in 2022 cannot take place before Jan.1 and must be preceded by three months’ notice from the landlord provided to the tenant. The province introduced a...

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HOUSTON DOESN’T SEE SCENARIO WHERE RENT CONTROL WOULD CONTINUE PAST STATE OF EMERGENCY

Posted in Coronavirus, Industry Trends, Newsworthy, Rent Control

HOUSTON DOESN’T SEE SCENARIO WHERE RENT CONTROL WOULD CONTINUE PAST STATE OF EMERGENCY

Nova Scotia’s premier-designate said Monday he remains committed to removing rent control put in place by the Liberal government after the province’s state of emergency is lifted, though it’s unclear when that will be. Speaking at a COVID-19 briefing, Tim Houston reiterated his position from the provincial election campaign, saying a Progressive Conservative government will put an end to the annual rent increase cap of two per cent. “I don’t see a scenario with...

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RENT CONTROL IS NOW A NOVA SCOTIA ELECTION ISSUE BUT ITS EFFECTIVENESS REMAINS QUESTIONED

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

RENT CONTROL IS NOW A NOVA SCOTIA ELECTION ISSUE BUT ITS EFFECTIVENESS REMAINS QUESTIONED

Nova Scotia’s emergency rent cap will expire in the next seven months, and as the provincial election campaign gets underway, party leaders are explaining their plans to make Nova Scotia affordable for those who rent their homes. On Tuesday morning, the NDP made a platform promise of permanent rent control through legislation called the ‘Rental Fairness and Affordability Act.’ It would set the previous tenant’s rent as the base for increases, tie allowable annual increases to a measure like...

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EDMONTON A RENTER’S PARADISE

Posted in Broker Listings, Broker Sales, Industry Trends, Newsworthy, Rent Control, Rental Rates, Vacancy Rates

EDMONTON A RENTER’S PARADISE

Edmonton, Alberta’s capital where the average annual income is almost $10,000 higher than Vancouver, has become a paradise for renters, with some of the lowest rents in the country. A national survey, released June 16, found that while rents across Canada had increased 2 per cent in May from a month earlier to an average of $1,708 per month, tenants were still paying less than $1,000 for a one-bedroom in Edmonton. Edmonton finished 30th on the list of 35 cities for average monthly rent in May...

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ONTARIO’S 2022 RENT INCREASE GUIDELINE

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

ONTARIO’S 2022 RENT INCREASE GUIDELINE

Based on the Ontario Consumer Price Index (CPI), the guideline on rent increases for 2022 in Ontario is 1.2 per cent. The CPI is a measure of inflation calculated monthly by Statistics Canada using data that reflects economic conditions over the past year. The guideline applies to most residential rental accommodations covered by the Residential Tenancies Act. It does not apply to rental units in buildings occupied for the first time after November 15, 2018, social housing units, long-term...

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COMMISSION RECOMMENDS AGAINST RENT CONTROL, URGES $25 MILLION IN SPENDING TO START SOLVING AFFORDABLE HOUSING CRISIS

Posted in Affordable Housing, Development, Housing, Industry Trends, Newsworthy, Rent Control, Zoning

COMMISSION RECOMMENDS AGAINST RENT CONTROL, URGES $25 MILLION IN SPENDING TO START SOLVING AFFORDABLE HOUSING CRISIS

The group tasked with identifying solutions to Nova Scotia’s affordable housing crisis has recommended the government immediately spend at least $25 million to start to turn things around. And if all of its recommendations are followed, the long-term outcome will be better than rental control, the group argued. The Nova Scotia Affordable Housing Commission was struck in November, co-chaired by Ren Thomas, a Dalhousie University planning professor, and Eiryn Devereaux, deputy minister of the...

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YUKON RENT CAP COMES INTO EFFECT, OPPOSITION CALLS IT ‘MASTERCLASS IN BAD POLICY MAKING’

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

YUKON RENT CAP COMES INTO EFFECT, OPPOSITION CALLS IT ‘MASTERCLASS IN BAD POLICY MAKING’

The Yukon government has delivered on one of its promises to the NDP — a residential rent cap that came into effect over the weekend. The move has already drawn fire from the opposition Yukon Party, and some landlords who say they won’t be able to afford their properties anymore. The cap came into effect on Saturday, and it limits any residential rent increases this year to one per cent, which is the Consumer Price Index (CPI) for Whitehorse in 2020. The percentage will be reviewed each...

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ONLY THE MOST EXTREME RENT INCREASES SHOULD BE CAPPED IN NEW BRUNSWICK, REVIEW FINDS

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

ONLY THE MOST EXTREME RENT INCREASES SHOULD BE CAPPED IN NEW BRUNSWICK, REVIEW FINDS

A review of the province’s rental housing market is ruling out a cap on rent increases in all but the most extreme cases. The report, drafted by civil servants and released, Friday says creating more incentives for the construction of new units is a more workable way to address the supply crunch in the white-hot housing market. It calls for “better protections against unreasonable rent increases” but Executive Council clerk Cheryl Hansen, the province’s top civil...

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N.S. PREMIER “DOESN’T SEE AN END TO RENT CONTROL” WHILE HOUSING CRUNCH LASTS

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

N.S. PREMIER “DOESN’T SEE AN END TO RENT CONTROL” WHILE HOUSING CRUNCH LASTS

Nova Scotia’s premier says a rent increase cap put in place during the COVID-19 pandemic will stay in place as long as housing is scarce. “I don’t see an end to rent control right now, when we’re looking at low availability of housing in the province right now,” Iain Rankin said at Province House on Thursday. That comes after Rankin said the same thing, during his State of the Province address at the Halifax Chamber of Commerce Wednesday. But the Premier also says...

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