SASKATOON — The Saskatchewan NDP continues to push the issue of rent control after another investor outside the province bought rental properties, citing the lack of legislation to limit rental costs.
Opposition Shadow Minister for Housing April ChiefCalf said Ontario-based West Plain Capital Inc. is the latest corporate landlord to acquire property in Saskatchewan, following Boardwalk Real Estate Investment Trust’s entry into the Saskatoon and Regina housing markets.
The Saskatoon Westview MLA, speaking at a media event at the NDP office on Friday, said the Opposition learned about the issue through their subscription to the business news website AllSaskatchewan.
“We came across two articles that were basically talking about Boardwalk, and then this other one that was talking about the West Plain Capital Incorporated. Basically, what the investors and the CEOs from these companies are saying is that they are investing in Saskatchewan. They're buying up existing properties because of the lack of rent control, which increases their profits,” said ChiefCalf.
She noted that Saskatchewan is one of only two provinces in Canada, along with Alberta, that have no rent regulation. This, she said, has caused rental prices in Saskatoon and Regina to rise faster than in other parts of the country.
“Renters are paying more and more to keep a roof over their heads. This is all occurring as a new report from rentals.ca indicates that one-third of renters are putting 50 per cent of their monthly income towards rent. For young people aged 18 to 24, the number is even more staggering. About half of those surveyed put 50 per cent of their monthly income towards rent. Based on the feedback I'm getting, I suspect we're worse than the national average here in Saskatchewan,” said ChiefCalf.
ChiefCalf added that West Plain was quoted in AllSaskatchewan saying it had acquired 111 properties in the province and plans to purchase more, given Saskatchewan’s lack of rent control. She accused Premier Scott Moe and the government of siding with large corporate landlords instead of addressing the rising cost of rent.
“[The government] are siding with big corporate landlords from other provinces over the hardworking people of Saskatchewan. There should be protections in place to make sure these big companies don't jack up the rent by 20 to 30 per cent on our children and elderly parents. Saskatchewan should not be the Wild West for corporate landlords,” she said.
The Opposition is consulting with Saskatchewan residents to include their input on rent control legislation it plans to introduce when the Legislature resumes this fall.
Earlier this month, a group of senior citizens led by Jean Carroll and Lynda McWaters launched a citywide campaign for rent control to provide relief to tenants, particularly retirees on fixed incomes. Carroll said her rent has risen between 10 and 30 per cent over the last two years, amounting to $185 to $425 a month.
ChiefCalf said the NDP plans to meet with Carroll, McWaters and other seniors to follow up on their campaign. She encouraged anyone interested in sharing their concerns to visit RentControlNow.ca.
