Landlord Registry – More Red Tape Solves Housing Crisis
I often wonder if expensive rules regulations and policies really distract enough people from the reality of what is going on in relation to a housing shortage in a fast growing city like Halifax.
I would not dispute the fact that we have a shortage of housing in Halifax and surrounding area. I am also in the business of providing housing for people in exchange for money, so of course for some I am part of the problem and for others I am part of the solution.
The challenge I have digesting this latest stunt by the local government is that it does not do anything to add housing to the market or make housing more affordable.
In fact it does the opposite, for small timers like me who are arguably middle age (I turned 50 this year), it makes me think about selling my small portfolio. When purchased by a new investor likely the older ones will be part of the renoviction movement where long term tenants (who are all currently paying below market rent) will be displaced and my properties will be brought back on the market at a substantially higher monthly rent. …[Read More]