The price hike was attributed to students and remote workers returning to urban centres, immigration numbers rising, and house hunters turning to rentals while waiting out market uncertainty.
Newfoundland and Labrador as well as the territories also have no limits on how much rent can increase, while other provinces have various systems that limit or cap rate increases for existing tenants. “A tenant can appeal to the landlord, perhaps accepting an increase but asking for some acknowledgement for being a great tenant that pays consistently on time, that always takes care of protecting the property. And most of our owners are willing to do that.”
“If your landlord is an investor, they are probably much more likely to try and maintain that market value over time. But they will usually be more lenient to somebody who is qualified, consistently pays on time, takes care of the property, all that kind of stuff.” “My viewpoint is always email and text message can be misinterpreted very quickly. And if you’re just looking to have a dialogue about what the expectation is at the end of the lease, you’re much more likely to end up on the same page with a phone call.”