Media Release

A new survey by the Investment Property Owners Association of Nova Scotia (IPOANS) is showing that the Nova Scotia government’s rent cap is making the province’s housing crisis worse.

Conducted in late September/early October, the survey of the survey of IPOANS members and non-member rental housing providers across Nova Scotia reported the following findings:

 “The solution to affordable housing is more rental housing, not less.  It’s clear that rent control is causing people to get out of providing rental housing, making less rental housing available for people in need,” said Kevin Russell, Executive Director of IPOANS.  “Bottom line: more people are going homeless thanks to rent control forcing rental housing providers out of business.”

Last year, a similar survey by IPOANS said 9,000 rental units were at risk of being sold.  Since then, organizations like Adsum and NSCC have stated that there are fewer rental units available for tenants as rental housing providers sell their properties.

Michelle Boisvert lost her business and main livelihood to support her family because of the government’s rent cap. She previously ran a property management company responsible for 60-plus rental units across several buildings.  The rent cap supported by all political parties caused the building owners to sell the units, with the new owners renovating the properties, increasing rents, and no longer requiring property management services.

“The rent cap makes it much harder to provide affordable quality rental housing, as buildings are sold, and people like me and the people who worked for me are forced out of business,” added Boisvert.  “Tenants lose affordable places to live, and people like me lose our jobs.”

Since 1978, the Investment Property Owners Association of Nova Scotia (IPOANS) has been the voice for responsible rental housing providers.  IPOANS members are responsible for more than 50,000 rental housing units in the province.