Key takeaways:
- 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.
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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
