Plus Nova Scotia’s 2% limit on rent increases is going up to 5% next year.
In a press conference Wednesday about proposed legislative changes, Colton LeBlanc, the provincial cabinet minister responsible for the Residential Tenancies Act, said his government will extend Nova Scotia’s current rent cap through the end of 2025, and raise the cap on rent increases from 2% to 5% starting Jan. 1, 2024. When asked about landlords exploiting fixed-term leases to get around the rent cap, LeBlanc told the gathered reporters that the extra 3% landlords could charge starting in January should fix the fixed-term loophole…