Survey : 86% of tenants felt that their rent increase met their expectations in 2022

Montreal, January 16, 2023 - The Corporation des propriétaires immobiliers du Québec (CORPIQ) makes public the results of an independent survey conducted among tenants revealing that 86% of them consider that their rent increase respected their expectations in 2022. This result even reveals that one tenant out of six has not had any rent increase in the last year.

Rent increases in 2022 deemed respectable by tenants

The survey was conducted by the independent firm L’Observateur, using phone and web interviews with representative samples between June and September 2022. To the question "Would you say that your last rent increase was 1) lower than you expected (4%), 2) in line with your expectations (44%), 3) with no increase at all (16%) or 4) a little higher than you expected (20%)", the respondents, after distribution of the 4% who refused to answer, have significantly (86%) judged the annual adjustment they received of their rent in 2022 as respectable. "As the Tribunal administratif du logement (TAL) recommendations for 2023 loom, it is important to note that rental landlords have once again shown flexibility in determining, in collaboration with tenants, annual rent adjustments in a spirit of openness that contributes to the good conduct of the parties while inflation (7%) is rampant and directly affecting rental landlords' margins of maneuver. Out of the 1.4 million households in rental housing, approximately 1,400 cases ended up before the TAL, equivalent to 0.1% of leases. It should be remembered that the average increases prescribed by the TAL in rent setting are usually higher than those evoked by the theoretical scenarios published by this same body. It is therefore natural to believe that each case is different and that when we take into account the actual insurance costs, the variation in municipal taxes and the renovation expenses, we quickly realize that rental owners are proposing appropriate adjustments according to the legislation," indicated Mr. Marc-André Plante, Director, Public Affairs and Government Relations of CORPIQ.

CORPIQ reiterates its desire to modernize the laws governing the rental sector!

"The very particular context that affects the rental housing sector requires solutions from everyone. According to the APCHQ, there is a shortage of 100,000 housing units in the Quebec real estate market. This situation obviously puts a lot of pressure on landlords throughout Quebec. In September 2022, CORPIQ unveiled its vision with 32 solutions to solve the housing crisis in Quebec. We look forward to contributing to the search for solutions. The method of calculating annual rent adjustments is a good example. Systematically, for the past 30 years, landlords have had to absorb part of the inflation to respect the TAL recommendations. This situation discourages the maintenance of the rental stock and investment in real estate. It is time to modernize our laws and to offer a more motivating framework for everyone to invest in the housing stock management sector in Quebec," concluded the spokesperson for the Corporation des propriétaires immobiliers du Québec.

To obtain a specific version of L’Observateur’s survey with the above-mentioned data, please send a request to maplante@corpiq.com 

 

 

About CORPIQ

A non-profit organization bringing together 30,000 landlords and managers who own nearly 500,000 rental units and condos, CORPIQ is the largest association to offer services to landlords and to defend their interests, for over 40 years. It serves all regions from four offices with a total of 70 employees. Quebec landlords provide housing to 1.4 million renter households, seven out of ten of which own a duplex or triplex. They are an essential link in the housing ecosystem and in the social structure of Quebec, since they often act as first responders to increasingly serious social problems.

Information and interview requests:

Marc-André Plante

Director, Public Affairs and Government Relations

Phone: 514-249-1691

Email: maplante@corpiq.com