The government has introduced new rules for landlords Did You Even Hear About It?

December 5, 2012 12:33 AMComments OffViews: 5

The government has introduced new rules for landlords. Did You Even Learn about It?
What’s Going On?
The government has changed the rules for landlords and renters in Saskatchewan.
Why the Changes?
According to Gordon Wyant, the Minister of Justice, the rental market in Saskatchewan is tight along with vacancy rates really low. His government believes the changes will protect tenants from large rent increases which occur within a short time.
What is the Vacancy Price?
According to CMCH it’s less than 1% within Regina. However, CMCH doesn’t include non listed private rental housing in their statistics. This means the vacancy rates are actually no t nearly less than 1%, it’s much higher.
So What Will Happen?
#1Beginning in April, 2013 landlords should inform their tenants if there will be a rent increase A few months prior to a fixed phrase lease ending. The actual renters will have 30 days to reply to it.
#2 Also starting in April, The year 2013, the Office of Home Tenancies will cover rent conflicts for seniors within independent living amenities.
#3 The government has decided landlords who want to improve rent with only 6 months notice must become a member of an a specific landlord association (the one that caters to large landlords).
If you are not a member, you have to give 1 years notice for a rent increase.
What’s Been the Reaction to the Changes?
Unsurprisingly, the NDP has called the changes a ‘Band-Aid solution’. Obviously, the NDP would like to ban private landlords and just have government operate housing.
What About the response From Landlords?
We think the changes made by the government are generally acceptable. Far better than the NDP’s knee-jerk proposals to creating punishing rules with regard to landlords which would reduce investment and pressure ‘good landlords’ to leave the market. The more the government interferes with the free market, fewer investment dollars will go into the market.
Is There Anything Really Bad With These Changes.
The government has made a mistake with making landlords to have to join a particular landlord association in order to raise rents in 6 months as opposed to a year. This is simply the creation of a new super paperwork. It won’t work along with it’s undemocratic.
Is There Anything the Government Missed?
Yes. We’re hearing more and more stories about bad tenants trashing houses and owing rent. There are poor tenants out there, just like in other provinces. We are not immune. The government has ignored this particular. Landlords need to screen their tenants cautiously and if you aren’t up to being a professional property manager you should hire someone who’s.
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Saskatchewan landlords have observed even a pro-growth government consider rights away from landlords with little input or feed-back from all of us. What’s next? Protect your self with proper renter screening and Equifax Credit Checks because the government is not on your side!
Discuss this particular and other landlord problems at the Saskatchewan Landlords Forum.

Credit Checks

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