Should Alberta Introduce Rent Control?

Should Alberta Introduce Rent Control? With the recent NDP victory, there are more than a few residential landlords in the province concerned with how the political shift in provincial government could affect their rental properties.

Late last year when former premier Jim Prentice dismissed the idea of proposed rent control, the NDP leader greatly criticized his viewpoint calling his decision “profoundly irresponsible”.

To date, Alberta’s new premier Rachel Notely has not yet announced any serious plans to introduce rent control, but in a recent statement Notely’s press secretary confirmed the new premier’s continued interest in working with local municipalities to provide housing for all Albertan residents.

Unlike other provinces, like British Columbia and Ontario where rental caps already exist, the lack of control over annual rent increases is an obvious bone of contention for many residents who aren’t in a position to own homes. Being faced with excessive new rental rates and only a few months of notice is an all too familiar story in the larger Albertan cities.

Critics of rent control see any attempt to introduce new charters as problematic with fears of completely saturating the rental market and hindering any capital investment on existing properties. However, in cities like Calgary where at least 40% of the homeless population is gainfully employed but living in shelters due to a lack of affordable housing, it’s clear there has to be a better solution.