Holt Liberals to Implement 3% Rent Cap to Help Tenants with the Rising Cost of Rent
September 23, 2024 • News
For immediate release
Saint John (September 23, 2024) – New Brunswickers are struggling with the rising cost of rent in the province, with rents up by 10% this year alone. That is why a Holt government will implement a 3% rent cap as soon as possible. The cap will be reviewed annually based on inflation and vacancy rates.
“Too many New Brunswickers are finding it harder and harder to afford a place to live,” said Susan Holt, Leader of the New Brunswick Liberal Party. “For years, the Higgs Conservatives have ignored the housing crisis, allowing rents to soar while families struggle to make ends meet. Our 3% rent cap will bring immediate relief and protect renters from unfair increases, ensuring that everyone has a secure place to call home.”
A Holt government would introduce legislation immediately so that tenants are able to benefit from the rent cap beginning in 2025. In conjunction with an initial review and update to the Residential Tenancies Act, this cap will be reviewed annually and adjusted with the market to ensure a balanced approach to saving tenants money while still encouraging development.
“New Brunswick tenants have been facing some of the largest increases in rent across the country and Higgs has refused to provide them relief,” said Holt. “Putting a cap on rent increases is just one part of our plan to make life more affordable as many in the province struggle the rising cost of living.”
Team Holt has heard directly from New Brunswickers that they are concerned about the rising cost of living. Their affordability plan will remove the 10% PST off power bills, scrap the Higgs gas tax, and introduce a universal school food program so that no kid goes to school hungry.
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