Nova Scotia's 2 per cent rent cap is being extended, but at a higher rate
Nova Scotia introduced an amendment to the Residential Rental Cap Act that will see a five per cent cap come into effect Jan. 1, 2024, which will remain in effect until Dec. 31, 2025.
The province's current two per cent cap was established in November 2020 and will remain in place until Dec. 31, 2023.
“When deciding on a five per cent increase per year for the next two years, we took into account the projected rate of inflation over that time. We chose five per cent to allow landlords to catch up with inflation while avoiding any large rate increases for tenants,” says Service Nova Scotia Minister Colton Leblanc.
This means someone paying $1,500 a month will see their rent increase by $75.
Joanne Hussey, a community legal worker with Dalhousie Legal Aid, was concerned the province was going to scrap the rent cap all together.
“I think we were really worried about the impact that would have on our clients and on tenants generally. I think renters in this province have been feeling that squeeze of rents getting much higher, their incomes not changing and their options being fewer and fewer,” Hussey says.
Property owners on the other hand were hoping Leblanc was going to pull the plug on the cap.
Still, Peter Polley says the increase to five per cent is too little, too late.
“If you mathematically add together the two per cent the last two years, plus five going forward, that would be less than half of inflation, call it the broad based inflation level. Which is a fraction of what we are incurring at the property level in terms of what is happening with our property taxes that are skyrocketing, our insurance, water, everybody knows electricity,” says Polley.
The rent cap applies to residential tenants who are renewing their lease or are signing another fixed-term lease for the same unit.
CTVNews.ca Top Stories
BREAKING Orca calf that was trapped in B.C. lagoon for weeks swims free
An orca whale calf that has been stranded in a B.C. lagoon for weeks after her pregnant mother died swam out on her own early Friday morning.
Minister 'outraged' after AFN national chief's headdress taken from Air Canada cabin
The federal minister of Crown-Indigenous relations is calling on Air Canada to 'make things right' with the national chief of the Assembly of First Nations, who said her headdress was removed from an airplane cabin during a flight this week.
Sophie Gregoire Trudeau on navigating post-political life, co-parenting and freedom
Sophie Gregoire Trudeau says there is 'still so much love' between her and Prime Minister Justin Trudeau, as they navigate their post-separation relationship co-parenting their three children.
From faulty kids' cribs to flammable kids' bathrobes, here are the recalls of the week
Health Canada issued recalls for various items this week, including kids’ bathrobes, cribs and henna cones.
Taylor Swift dons Montreal designer's dress in 'Fortnight' video
A pair of Montreal designers' work has now been viewed over 41 million times. Taylor Swift dons a Victorian throwback black gown in her latest music video, 'Fortnight', designed by UNTTLD due Simon Belanger and Jose Manuel Saint-Jacques.
'Too young to have breast cancer': Rates among young Canadian women rising
Breast cancer rates are rising in Canada among women in their 20s, 30s and 40s, according to research by the University of Ottawa (uOttawa).
'Violation': CSIS had officer investigated after she reported a superior raped her
A CSIS officer's allegations that she was raped repeatedly by a superior in agency vehicles set off a harassment inquiry, but also triggered an investigation into her that concluded the alleged attacks were a “misuse” of agency vehicles by the woman.
'I was scared': Ontario man's car repossessed after missing two repair loan payments
An Ontario man who took out a loan to pay for auto repairs said his car was repossessed after he missed two payments.
Charlie Woods, son of Tiger, shoots 81 in U.S. Open qualifier
Charlie Woods failed to advance in a U.S. Open local qualifying event Thursday, shooting a 9-over 81 at Legacy Golf & Tennis Club.