Province to remove rent cap as ‘early Xmas gift’ for landlords

Province to remove rent cap as ‘early Xmas gift’ for landlords

New Brunswick — The provincial government announced Thursday that they would not be extending the rent cap created earlier this year to protect tenants from soaring rent increases. The Conservatives are calling the move an “early Christmas gift” for landlords.

“It’s no secret that inflation is rampant, and is going to get worse before it gets better,” said Infrastructure Minister Jill Green. “With all the rising costs of oil, food and gas, we need a way to help landlords weather these hard times.”

Green says she hopes the decision will help to alleviate some of that financial burden, just in time for the holidays.

“The holiday season is an expensive time for anyone, but especially for property management companies,” she explained. “With all of the paid holiday leave, the Christmas parties, and the corporate holiday bonuses…it really starts to adds up.”

There are some who argue that this will prove to be disastrous for many tenants whole will struggle to afford the inevitable rent hikes, forcing them out of their homes in the dead of winter.

“I think that these people should really stop thinking of themselves, and start thinking of others. That’s what the holiday season is about,” said Premier Blaine Higgs, in a statement.

The Manatee contacted one of these organizations, the Toronto-based PropertyCorp, via email  to see how the gesture was received.

“PropertyCorp is committed to offering the highest quality residential spaces in Canada. The company has properties across the country, including 12 buildings in SAINT JOHN, NEW BRUNSWICK. For more information on these properties, please visit our website at propertycorp.og.web.”

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