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
Deaths of 4 people on Sask. farm confirmed as murder-suicide
The deaths of four people on a farm near the Saskatchewan village of Neudorf have been confirmed a murder-suicide.
Multiple bridges in Calgary shut down for police incident
Calgary police have shut down a number of bridges into and out of the downtown core as officers deal with a distraught individual.
Sunshine list: These were the Ontario public sector's highest earners in 2023
Ontario released its annual sunshine list Thursday afternoon, noting that the largest year-over-year increases were in hospitals, municipalities, and post-secondary sectors.
Why some Christians are angry about Trump's 'God Bless the USA' Bible
Former U.S. President Donald Trump is officially selling a copy of the Bible themed to Lee Greenwood’s famous song, 'God Bless the USA.' But the concept of a Bible covered in the American flag has raised concern among religious circles.
Humboldt Broncos bus crash survivor qualifies Canada for Paralympics in rowing event
Former Humboldt Broncos goaltender and bus crash survivor Jacob Wassermann has qualified Canada for a rowing event for the 2024 Paralympic games in Paris.
Baby boom amongst nurses leads to maternity ward closure in Listowel, Ont.
The emergency room at Listowel’s hospital is open today, but come summer, their obstetrics unit will be temporarily closing its delivery rooms.
George Washington family secrets revealed by DNA from unmarked 19th century graves
Genetic analysis has shed light on a long-standing mystery surrounding the fates of U.S. President George Washington's younger brother Samuel and his kin.
Krispy Kreme doughnuts coming to McDonald's in U.S., but not Canada
Canadians will be missing out on a sweet new partnership between McDonald's and Krispy Kreme, which will see doughnuts available at McDonald's locations across the U.S. by the end of 2026.
'We won't forget': How some Muslims view Poilievre's stance on Israel-Hamas war
A spokesman for a regional Muslim advocacy group says Conservative Leader Pierre Poilievre's stance on the Israel-Hamas war could complicate his party's relationship with Muslim Canadians.