Alberta's NDP has tabled Bill 205 which effectively, if passed, would cap rent increases to 2% for the first two years. It would then tie rent increases to inflation, to a maximum of 5%.
This Bill comes off the heels of a very active spring and summer market in 2023, causing rent increases in some areas of Alberta to increase upwards of 50% for some tenants.
There are many factors that contribute to these changes, including the Bank of Canada interest rates, overall inflation and home sales in Alberta.
Read the full article here about what Bill 205 is proposing and let us know your thoughts!
Are you for or against rent caps?
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