The régie du logements in Quebec just came out with their annual rent increase allowance and it may just blow your mind, and not in a good way. After a year of hearing that the cost of living has gone up between 4-6% depending on where you live, The TAL decided to allow a rental increase of only 1.28% in Quebec.
So, essentially as an owner of a property that you rent out, your taxes will increase, your cost of services to your tenants (snow removal etc) will increase, but your tenants rent will only increase by 1.28%, meaning a lease of 800$/month will go up to a grand total sum of 810$/Month +-.
I know that there have been some protests and some loud voices about recent rental hikes and costs to tenants, but something must be in the favour of the landlord. Is it still favourable to be a property owner?
Let us know what you think, reach out and let’s have a conversation!