Rent increases for 2015: Health, happiness and headaches for owners of rental housing!
Montreal, January 23, 2015 --- The Association of Quebec Landlords (APQ) reaffirms that once again owners of rental housing feel abandoned by the Government.
Although the study of the Roche Group, dating back over 10 years, had already denounced the situation, the rental market is still in decline.
“Once again, the APQ is appalled by the status quo of the Government. Given the inconsistencies in the law, with an outdated method of calculation that destroys the rental market, the Government sows discontent among all owners of rental housing in Quebec,” says Martin Messier, President of the APQ.
A simple form in Excel format to better do the calculations
The APQ makes available to all owners a form in Excel format so that owners can more easily calculate their increases and save the data on their computer. In this computing grid owners can also calculate the increase that would normally be required in their view to let them better negotiate with their customers, the housing tenants. Without charge at www.apq.org or by calling 1-888-382-9670.
Each year, disillusioned owners discover with horror the increases proposed by the Régie du logement for:
Natural gas 12.1%
Annual net income 0.6%
Major repairs and work on the entire building 2.9%
The law is so much on the side of the tenants that the latter can refuse and remain in the housing whereas the owner has all the evidence in hand so that he can increase the rent on his housing!
The Association of Quebec Landlords (APQ) recommends an increase of 3% on average for a dwelling that was not charged with tax or insurance increases and excluding major works.
The APQ urges the owners to claim from the tenants the variety in school and municipal taxes and insurance. Indeed, the rise in rent increases must take place this year. Because, if it is not claimed in 2015, it will be lost! No agreement will be possible, as desired by many owners, to reduce rent increases and to help their tenants, because the Government does not allow it!
The APQ is also mystified that it takes more than 30 years to recoup major works.
“An owner will have renovated his roof 2 or 3 times before the first roof will be profitable. Faced with such inconsistency, the APQ can only conclude that there is a lack of vision among our elected,” says Martin Messier. With a rate of 2.9% for major work, or a $2.42 increase for every $1000, it will take over 34 years to recover the investment!
The APQ recommends that investments should be recouped in 10 years’ time, i.e. at a rate of 10% per year.
Also present for all rental property owners in Quebec on February 3, 2015
The Association of Quebec Landlords (APQ) is proud to organize the First Rent Increase Calculation Clinic APQ.
Free and exceptionally open to all owners of the Province, this major event wants to be linked with a strong increase in rent!
On Tuesday, February 3, 2015 from 10 a.m. till 6 p.m. at the complexe Desjardins in Montreal:
- Ongoing training sessions every hour:
The setting of the rent, deadlines, notices, delivery of notices ...
Manage your real estate as a business ...
- Help for calculating rent increases
- The APQ calculations form
- Meet professionals of rental property
- Meet major suppliers and plan your work
To be a prudent owner, well informed and supported by a dynamic association that meets your needs!
Founded in 1984, the Association of Quebec Landlords (APQ) is the most important association to offer services to rental property owners. It has been serving the owners of all the regions of Quebec for over 30 years. In addition to offering, as much to duplex or triplex owners as to property managers, an evaluation service on tenants which is unique in Quebec.