NSNDP promises to scrap fixed-term leases and lower rent cap if elected

The New Democratic Party of Nova Scotia (NSNDP) recently unveiled the first phase of their housing plan, promising to implement significant changes if elected. Party leader Claudia Chender announced in a press release on October 31 that their government would abolish fixed-term leases and establish a new rent cap.

Fixed-term leases have been a contentious issue, allowing landlords to evict tenants and increase rent beyond the 5% annual cap set by Premier Tim Houston’s administration. Chender vowed to ban fixed-term leases altogether and reduce the rent cap to 2.5%, ensuring that yearly rent increases do not exceed this limit. These changes would be implemented immediately to address the rising cost of rent in Nova Scotia.

According to the press release, rent prices surged by 18% last year, with the average cost of a one-bedroom apartment in Nova Scotia reaching $2,000 per month. The vacancy rate in Halifax was reported at a mere 1%, indicating a severe shortage of affordable housing options. The NSNDP’s proposed reforms aim to provide more stability for tenants and curb the escalating rental prices in the province.

A study conducted by ACORN Canada revealed that 35.7% of respondents in Nova Scotia who were on fixed-term leases had experienced eviction under this arrangement. Critics argue that fixed-term leases create loopholes that disadvantage renters seeking long-term housing solutions. Despite claims that these leases cater to students and individuals in need of short-term accommodations, experts argue that they have a detrimental impact on the rental market.

Criticism has also been directed at the existing rent cap, which exceeds the 3.5% inflation rate and fails to adequately protect tenants from rent hikes. Additionally, recent policies introduced by the Houston government have expedited eviction processes, giving landlords more power to remove tenants from their properties.

In contrast to the NSNDP’s proposals, neither the Progressive Conservative Party nor the Nova Scotia Liberals have put forth any plans to adjust the rent cap or eliminate fixed-term leases. The upcoming election will determine whether these housing reforms will come to fruition and address the pressing issues facing renters in Nova Scotia.