Manitoba government plans new rules for rent increases and incentives for new housing

The legislative assembly during the first session of the 43rd Manitoba legislature throne speech at the Manitoba Legislative Building in Winnipeg, on Nov. 21, 2023.A bill now before the legislature would set down a few conditions for landlords who want to raise rents above the annual provincial guideline, which is tied to inflation.

Currently, landlords can apply to a residential tenancies director for a higher rent increase and make their argument. The bill would limit such applications to cases where landlords face a sharp rise in taxes, utilities and security costs, or where they invest in capital projects such as plumbing and heating.

The bill would also give a residential tenancies director the power to order rent increases to be phased in over a number of years instead of taking effect immediately. The bill would also expand exemptions to the rent guideline, so that landlords who convert non-residential properties to rental units can raise rents for 10 years before being regulated.

Source: Real Estate Daily Report (realestatedailyreport.net)

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