QRLA President Robert Gentile.
Some Quinte landlords are raising concerns about the federal government’s 2024 budget, saying some proposals may have “unintended consequences” and may harm their ability to expand rental housing supply.
The Quinte Region Landlords Association (QRLA) is hosting an event to discuss the budget and potential impacts on landlords this Thursday, April 25, at 7 p.m. The event will have both an online and in-person component in Belleville.
The association anticipates landlords from across Ontario to attend.
“We applaud the government for addressing the rental housing crisis and encouraging supply but worry some of the measures may have unintended consequences,” said QRLA President Robert Gentile, in a press release.
Gentile referred to the requirement to disclose historical rents to new tenants as an example of “more red tape” piled on an “already heavily regulated industry” – and excessive regulations have previously been cited as reasons for leaving the industry already, the association noted.
Gentile said he’s not clear on how such information would be of use to tenants.
Gentile also expressed worries this could be a prelude to removing vacancy decontrol – the landlords’ ability to raise rents when a unit becomes vacant.
“Many landlords fall behind financially because the rent increase rules don’t allow them to keep up with rising operating costs. The only chance many landlords have to catch up is when there is a tenant turnover.
“Take away that ability, and you may trigger an exodus of small landlords who decide rentals aren’t worth the high risk and headaches.”
The association has also expressed concerns about the proposed Tenant’s Bill of Rights, a $15-million legal fund to help with landlord disputes, the raising of capital gains tax, and more.
“We have no issues with helping good tenants defend their rights with any bad-apple landlord,” said Gentile. “But what about the many ‘mom-and-pop’ landlords who face financial ruin at the hands of bad-apple tenants abusing the system?
“Don’t they also deserve protections so they can keep providing rental housing? Many are not getting that right now …”
Gentile described the Landlord and Tenant Board as “dysfunctional for years.”
Both sides have rights that should be protected, and both should expect a justice system that works, continued Gentile.
“We look forward to dialogue with the federal government through industry partners to better understand the budget and its potential implications on landlords and rental housing supply.”
The event for landlords is open to anyone in the rental housing industry. For details on location and online access, interested participants are asked to fill out a contact form via the QRLA website (www.qrla.ca.)
