Nova Scotia extends rent cap to end of 2025
Posted Mar 22, 2023 04:24:00 PM.
The Nova Scotia Government has announced it will extend its temporary rent cap to the end of 2025.
On Wednesday, the province said it will be extended to Dec. 31, 2025, while the cap will be increased to five percent starting Jan. 1, 2024.
“Nova Scotians are facing challenging financial times, and that factors greatly in every decision we make,” said Colton LeBlanc, Minister of Service Nova Scotia and Internal Services. “We are always working to balance the rights and needs of tenants and landlords. Extending the rent cap by two years will protect renters while adjusting the amount rent can increase will support landlords.”
As for the current cap of two percent, the province said that it will remain in place until the end of this year.
The province said the cap applies to residential tenants who are renewing their lease or those in a fixed-term lease who are signing another fixed-term lease for the same unit. It does not apply to new tenants signing new leases or rental increases for lot fees in land-lease communities.
The original two percent rent cap was implemented in Nov. 2020 under the previous Liberal Government.
