Quote:
Originally Posted by Locke
Let me clarify. When rent control is imposed, it is a fixed dollar amount as based on the current market rate. That being said, it means that your rent would be fixed at what it is now. It would not double overnight, but conversely nor would it decrease to create what is essentially dubbed "affordable housing."
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Just to add onto that- in Winnipeg rent controls specify that a landlord can only increase your rent by X percent per year; unless he can justify it. (Adding a swimming pool, etc.) Usually that rate is at 3-5%.
What I was thinking would work is a control of 10-15% per year for 2 years. As many have mentioned, we have seen rents doubling. At least make it so that Joe Renter doesn't have to move back to Saskatchewan after we've shown him what a great city Calgary is.