Nova Scotia’s major landlords’ association says a two per cent annual cap on rents brought in by the Liberal government won’t solve the shortage of affordable housing and may even make it worse.
Kevin Russell, executive director of the Investment Property Owners Association of Nova Scotia, said in an interview Thursday the temporary protections for renters introduced on Wednesday are acceptable as a short-term measure during the pandemic.
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But he says if the measure stays in place after COVID-19 subsides, landlords will struggle to maintain and upgrade their buildings, and it will lead to a decrease in the housing available for low-income tenants.
Housing Minister Chuck Porter has said the cap will be in place until the province lifts its state of emergency order or Feb. 1, 2022, whichever comes first.
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He also has announced that landlords will not be able to obtain an eviction order for renovations, informally known as a “renoviction,” for the same time period, because he says people shouldn’t be forced out of their homes during the pandemic.
Russell speaks for 155 building owners in the province who manage multi-unit apartments.
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