Albertans are expressing frustration over the province’s lack of rent control policies as an influx of new residents is driving up demand, sending rent prices skyrocketing.
Several cities in Alberta have experienced some of the fastest-rising rental prices in the country as Canadians flock to the province in search of a lower cost of living. Edmonton, for example, experienced one of the highest annual rental hikes in August, with the price of a one-bedroom apartment rising by a whopping 18.6%.
While Alberta is still comparatively affordable when compared to cities such as Toronto and Vancouver, the price shock has left longtime residents feeling uneasy.
A post on Reddit demanding rent control be implemented in Alberta had others sharing their experiences with sky-high rent hikes.
“Enough is enough with these rent increases. I know so many people who are seeing their rent go up between 30% and 50%, and it’s really terrible to see. I know a senior who is renting a basement suite for $1,000 a month. He was just told it would be $1,300 in 3 months, and the landlord said he would raise it to $1,800 a year after because that is what the ‘market’ is demanding,” the original poster wrote.
“The ‘market’ is giving landlords the opportunity to jack rents to whatever they want, and many people are paying them because they have zero choice. When is the UCP going to step in and limit rent increases?”
The responses were just as grim.
Alberta is one of a handful of Canadian provinces that does not have a rent control policy, and there are no limits to how much a landlord may increase the rent. However, there are some rules in the Residential Tenancies Act on how and when rent can be increased.
In neighbouring BC, which has the highest rental prices in the country, rent control policies limit annual rent increases for tenants, currently capped at 3%.
However, when a renter leaves a unit, there are no legal limits on how much a landlord can increase the price for a new renter.
When Daily Hive spoke to the Alberta government earlier this year about rent control, Jason Nixon, minister of seniors, community, and social services, told us that rent control “does not work” and will “ultimately make Albertans homeless,” adding that the province was focused on increasing supply and encouraging new construction.
Have you seen your rent increase steeply this year in Alberta? Let us know in the comments below.