CORPIQ welcomes Quebec's decision and will be in solution mode

MONTREAL, Jan. 31, 2023 – The Corporation des propriétaires immobiliers du Québec (CORPIQ) welcomes the decision of France-Élaine Duranceau, Minister Responsible for Housing, to mandate Chantale Jeannotte, her parliamentary assistant and MP for Labelle, to consult with partners in the housing industry to find solutions to the challenges facing rental housing in Quebec.

CORPIQ’s 32 solutions to Quebec’s housing crisis

In September 2022, CORPIQ produced a document entitled “32 solutions to the housing crisis in Quebec.” In it, CORPIQ proposes ways to modernize the legislation governing the work of the Tribunal administratif du logement to create an environment more conducive to the development of a more attractive offer for landlords and tenants alike. “CORPIQ has gathered the concerns of its network of members in the 17 regions of Quebec. Its members have a desire to review the method of calculating and setting rents as a way to obtain better support for the renovation of aging rental housing stock and reduce irritants, such as Section G when a tenant leaves and the security deposit. This will reduce the risks for both tenants and landlords when a tenant moves out. It is imperative that Quebec review the rules of the game to maintain interest in managing and investing in rental housing stock over the long term,” said Marc-André Plante, Director, Public Affairs and Government Relations, at CORPIQ.

Rental housing at a crossroads

The specific circumstances affecting the rental housing industry require solutions from everyone. The recent Canada Mortgage and Housing Corporation report on rental housing shows an imbalance between supply and demand throughout Quebec. According to the Association des professionnels de la construction et de l’habitation du Québec (APCHQ), there is a shortage of 100,000 housing units on the Quebec real estate market. In addition, almost 60% of housing units were built before 1980. There is an obvious deficit in the maintenance of the rental stock in Quebec. An economic study by the APCHQ estimates a 15% drop in renovation spending in 2023, amounting to a $3-billion gap. “Given the needs on the ground, Quebec cannot afford a decline in the housing sector,” Marc-André Plante said. “More than ever, we need foundations that protect and stimulate investment in rental housing. This includes better conditions for renovations and retaining the F clause for at least the first five years of a lease.”