P.E.I. landlords say they are still waiting for details on a promised compensation package set to help recover lost revenues from next year’s zero per cent rental increase. | SaltWire
Chris LeClair, spokesperson for the Residential Rental Association of P.E.I., says landlords have been left in the dark on the details of the province's promised compensation plan following the announcement the 2023 allowable rent increase would be zero per cent. - Cody McEachernCHARLOTTETOWN, P.E.I. — P.E.I. landlords say they are still waiting for details on a promised compensation package set to help recover lost revenues from next year’s zero per cent rental increase.
“We simply wrote him outlining what we thought that compensation could look like, how it could be calculated and done in an expedited manner,” said LeClair. “As well, we talked about what happens in subsequent years. This was done before the new legislation ” With no details and no discussion with stakeholders on what the province’s compensation plan will look like, if it happens, LeClair said 2023 could be a difficult year for landlords and tenants.
LeClair said while the government has been very vocal about the need of new construction for housing across the Island, the lack of details on how landlords will be compensated next year and the changes in the Residential Tenancy Act will make it difficult for them to find willing players in the rental market.
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