- Brad Trivers steps back promise from a year ago; says new living act probably delayed till fall.
- The P.E.I. Greens described the ‘financialization’ of the region’s housing market, with more teams being bought as investment options rather than a place for the owner to live.
P.E.I. Housing Minister Brad Trivers told journalists Tuesday a rental registry may not be needed to implement limits on rent rise in the region.
That appears to step back a commitment he made a year ago when he told the house government had committed the required grant to make the registry a reality.
The shift came as Trivers confirmed an update to P.E.I.’s 30-year-old rental rules probably wouldn’t be tabled in the legislature till the fall.
The Opposition initially put forward using a rental registry to track changes in rental costs over time in a non-binding motion that passed in the home in November 2019.
In March 2021, Trivers told the house, “we have funds saved, and we’re going to go out, and we’re going to find out precisely how we can do a rental registry properly to make it a reality.”
On Tuesday, Trivers said the region is still awaiting a consultant’s report on the subject, raising doubts regarding whether the government believes the registry necessary.
“The question isn’t ‘Do we require a rental registry?’ It’s ‘How are we going to make sure our legislation and laws are adequately executed and adhered to?'” he told reporters.
Maximum 2021 rent growth: 1%
Increases in rents on P.E.I. are managed by the Island Regulatory and Appeals Commission, setting a maximum yearly accumulation. For 2021, the top growth was set at one percent.
Source – cbc.ca