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Mortgage loans: the forgotten elements in the calculation of the 2024 rent increase

Mortgage loans: the forgotten elements in the calculation of the 2024 rent increase

It is not surprising, but also with great disappointment, that the rates of the Administrative Housing Tribunal (TAL) were announced on January 16.
These rates were predictable since they are based on the Consumer Price Indexes (CPI) and the Bank of Canada’s certificate rate.

A disappointment that has persisted for too many years.

One thing landlords and tenants agree on is to modernize the way rent increases are calculated.

Some items of expenditure should be reviewed, such as the integration of mortgage loans.

Rental housing owners with a variable rate experience a rollercoaster of emotions every time the Bank of Canada announces its key interest rate.
Those who had opted for a variable rate find themselves a few years later with rates that have doubled or even tripled in some cases. And first-time buyers have decreased their purchasing power because these rates reduce their ability to pay.

Many new rental housing owners mistakenly think that mortgages are included in the LLP calculation grid. This is very bad news that is very sourly received and inexplicable.

The Association des Propriétaires du Québec (APQ) has been raising awareness among the various levels of Government over the past few years.
The APQ hopes that this time, 2024 will be the year of housing and a real desire for change.

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Québec Landlords Association

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