Quebec Landlords Association

Quebec Landlords Association

December 13, 2011 11:42 ET

The Quebec Landlords Association (APQ): CMHC Report Shows Very Little Change in the Quebec Real Estate Market This Year

MONTRÉAL, QUÉBEC--(Marketwire - Dec. 13, 2011) - The Québec Landlords Association (APQ) reacts to the results of the CMHC's latest study on rental housing.

The vacancy rate has remained stable for the most part, save for a slight decrease in the majority of Quebec's regions. The vacancy rate went from 2,7% to 2,6% in the overall Québec market. Of note is a slowing of the market in the Québec City region which went from 1,0% to 1,6%. However, in certain areas such as the Greater Sherbrooke area the vacancy rate remains high at 3,7%.

The study also notes that the price of the average rent in Québec increased by 2.6%.

However, this increase remains insufficient to adequately maintain the buildings. "For all residential landlords, it remains difficult to pay for renovations when the increase rates allowed by the government are so low. Investing in residential rental real estate is becoming less and less profitable for landlords and will remain so as long as the different levels of government let the deterioration and market disinterest continue before something is done'', stated APQ President, Martin Messier.

"The whole question of the very existence of rent controls needs to re-examined. This restrictive practice which only allows for very slight rent increases doesn't stimulate new construction or investment in major renovation projects. These controls cause as much harm to tenants as to landlords. We need to return to the inspiration and dynamism of a free market system.'' states the APQ's president.

The APQ hopes that the government will embark upon a full revision of the methodology used to set rents, and allow landlords to re-let the dwelling at market levels after the tenant's departure, who had up to then benefitted from low rent increases during the previous terms of the lease., and not to mention the property taxes that are factored into the increase calculations and which make up a large part of it due to the sharp increases in property tax rates and municipal evaluations.

According to APQ President, Martin Messier "We can see that this problem reflected in the City of Montreal's budget, which when presented, will penalize owners of duplexes and triplexes.

Founded in 1984, the Québec Landlords Association (APQ) is the most important association of its kind serving residential landlords throughout all regions of Québec.

Contact Information

  • Estelle Fabre
    Communications Service
    514-382-9670, ext. 218
    fabre@apq.org

    Martin Messier
    President
    514-382-9670, ext. 201
    www.apq.org