The Importance of Multi-Level Government Involvement in Solving the Rental Market Crisis

It is evident that addressing the challenges in the rental market requires a collaborative effort from all levels of government. The coordinated involvement of federal, provincial, and municipal governments is crucial in bridging the viability gap and restoring confidence in the rental market. The recently released report highlights the need for each level of government to play a significant role in implementing solutions.

Recommendations for Federal, Provincial, and Municipal Governments

The report outlines a clear set of recommendations for each level of government to address the rental market crisis. While some measures, such as development charges reform, are already in progress at the provincial level, there is still much work to be done. Lowering development charges and property taxes are crucial steps that are being implemented at varying degrees, municipality by municipality. Additionally, there is a need for the implementation of a capital attraction strategy to attract investment in housing.

It is essential for all levels of government to work together to ensure the success of these recommendations. By collaborating and taking decisive action, we can begin to see positive changes in the rental market.

The full report and its recommendations can be accessed here.