CORPIQ reacts to the idea of a rent registry

Montreal, June 28, 2023 - The Corporation des propriétaires immobiliers du Québec (CORPIQ) reacts to the proposal by mayors supporting the idea of a Quebec rent registry. First of all, CORPIQ applauds the desire of the mayors of several Quebec cities to contribute to the debate on the housing crisis throughout the province. Unfortunately, the idea of controlling rental prices by register would have harmful repercussions for tenants. It would reduce supply through a sharp increase in repossessions, facilitate real estate speculation, mass evictions of tenants and the total disinterest of rental landlords in renovating the current rental stock. All agree that this is not the kind of situation we want.

It's worth noting that a lease registry has already been tried elsewhere, with resounding failures, notably in Ontario and Boston.  In both cases, the effect on the rental property market was immediate, with the withdrawal of thousands of units of affordable housing and reduced investment in new construction. "At a time when massive housing construction is needed throughout Quebec, the creation of a rent registry is in no way a lasting solution to the housing crisis. On the contrary, a registry would slow down everyone's efforts to rebalance supply and demand. What's more, the registry will contribute to poor relations between landlords and tenants," points out Marc-André Plante, CORPIQ's Director of Public Affairs and Government Relations.

Section G of the lease: an outdated tool

The mayors' comments are also a reminder of the ineffective application of Section G of the lease in Quebec. This is why CORPIQ is campaigning for a modernization of its application, which is a major constraint in the residential rental system. "According to a Léger Marketing survey, 80% of tenants do not seem to know the basics of Section G of the lease. For CORPIQ, the obligation in law to maintain a similar price for new tenants has only perverse effects, particularly when it comes to maintaining and renovating the rental stock in Quebec. Rental management costs are rising, and the rules of the Tribunal Administratif du Logement no longer hold water. With rising interest rates, many landlords find themselves in a bad position. The legislator must review the application of Section G of the rental lease. CORPIQ will stress the importance of withdrawing it in several respects. That's why we need a concerted, global plan for action on housing. We need to stop making piecemeal proposals just a few days before July 1," concluded Mr. Plante.

 

About CORPIQ

A non-profit organization bringing together 30,000 owners and managers who own nearly 600,000 rental units and condos, CORPIQ is the largest association to offer services to housing owners and to defend their interests, for over 40 years. It serves all regions from four offices with a total of 60 employees. Quebec landlords provide housing for 1.5 million tenant households, and seven out of ten of them own a duplex or triplex.

Information and interview requests :

Marc-André Plante

Director, Public Affairs and Government Relations - Corporation des propriétaires immobiliers du Québec

Cell: 514-249-1691

E-mail: maplante@corpiq.com