The province will extend the rent cap another two years.
The 2%t cap currently in place will end on December 31, 2023, but a five percent rent cap will start January 1, 2024 until December 31, 2025.
“Nova Scotians are facing challenging financial times, and that factors greatly in every decision we make,” said Colton LeBlanc, Minister of Service Nova Scotia and Internal Services. “We are always working to balance the rights and needs of tenants and landlords. Extending the rent cap by two years will protect renters while adjusting the amount rent can increase will support landlords.”
Rent caps apply if you are a renewing your lease or signing for another fixed-term lease for the same unit. It does not apply to new tenants signing new leases or rental increases for lot fees in land-lease communities such as mobile home parks, as they have their own processes for setting rental increase rates.
Quick Facts:
— a five per cent increase on rent of $1,500 per month means it will increase to $1,575
— the two per cent rent cap was put in place in November 2020 during the COVID-19 pandemic
— in February 2022, the cap was extended to December 31, 2023
— any additional cost to a tenant for services originally included in the lease (such as parking), or removal of a service that increases rental costs to a tenant (such as requiring a tenant to pay for electricity when it was originally included in the rent) is considered a rental increase
— about one third of Nova Scotians are renters
About one third of Nova Scotian’s are renters, and rent in Halifax for a one bedroom is on average $1700 a month.
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