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3rd Reading of Bill 262 – final debate 
HON. KIM MASLAND « »: Mr. Speaker, would you please call Bill No. 262.
[9:30 p.m.]
[Page 5827]
Bill No. 262 – Interim Residential Rental Increase Cap Act (amended).
THE SPEAKER « »: The honourable Minister of Service Nova Scotia and Internal Services.
HON. COLTON LEBLANC « »: I move that Bill No. 262, an Act to Amend Chapter 22 of the Acts of 2021, the Interim Residential Rental Increase Cap Act, be now read for a third time and do pass.
I would like to start by thanking the members for the debate on this bill, a bill that will impact more than 300,000 Nova Scotians. I appreciated hearing their perspectives and listening to the issues that they brought forward.
I’d also like to thank those who appeared before Law Amendments Committee last week to share their experiences as well as their suggestions about Bill No. 262. I took the time to listen to each presenter, and I appreciated and I recognize the impact that this bill is having on so many Nova Scotians, both those who rent and those who have invested in residential properties.
What we have heard will continue to factor into our decision-making, into balancing the needs and rights of both tenants and landlords. We have said all along that our priority with any change we make to the Residential Tenancies Act and to the Residential Tenancies Program is to balance the rights and the needs of both tenants and landlords. I say this often, but I’m now starting to hear it from others as well.
The presenters at Law Amendments Committee helped to illustrate how challenging that can be. Tenants bring one perspective to the table and landlords bring another. Our job, with the decisions we make, is to get the right balance.
Landlords spoke at Law Amendments Committee about how difficult it has been since the rent cap was first introduced. The cap has limited the rent they can collect while costs associated with utilities, for example, and ongoing maintenance have increased. The cap limits how much they can make and how much they can reinvest in their properties. It’s a challenge.
To read the full debate, click here.