The Quinte Region Landlords Association (QRLA) likes the recently announced federal budget for its focus on increasing the supply of rental housing, however, it also has concerns with some measures that have the potential to lower that supply.
The Association plans to discuss those issues with landlords at a special meeting Thursday April 25.
QRLA President Robert Gentile says a requirement that landlords disclose historical rents to new tenants will mean more red tape, especially burdensome to “mom and pop” operations.
Gentile says it’s not clear on how that information would be of any use to tenants. He worries the stipulation could be a prelude to removing a landlord’s right to raise rents when units become available.
“Many landlords fall behind financially because the rent increase rules don’t allow them to keep up with rising operating costs. The only chance many landlords have to catch up is when there is tenant turnover,” says Gentile.
The Association also has concerns with the proposed Tenant’s Bill of Rights and the increasing of the capital gains tax.
Those interested in learning more can go to the association’s contact form at their website.
