HALIFAX –
Some Halifax-area landlords on Monday defended their use of fixed-term leases as necessary to recoup costs under Nova Scotia’s rent cap, despite criticism the leases help property owners skirt the rules.
Their comments to a legislature committee were in reaction to a government bill that would extend the five per cent cap on rental increases to the end of 2027.
Opposition parties and housing activists say the bill’s failure to address fixed-term leases has created a loophole that allows large corporate landlords to boost rents past five per cent for new tenants. However, smaller landlords told the committee on Monday that they too benefit from fixed-term leases, which they said help them from losing money on their investment.
Jenna Ross, of Halifax-based Happy Place Property Management, said her company started implementing fixed-term leases “because of the rent cap.”
“Rent is what we need to invest in our properties and pay …