New Brunswick's 3% rent cap to remain through end of fiscal year: housing minister
New Brunswick's housing minister says the province's three per cent rent cap will remain throughout this fiscal year after going into effect in February.
Noting its importance, Minister David Hickey said, 'we're offering that stability for renters, while at the same time committing to review the Residential Tenancies Act.'
At an economic policy meeting last December, housing researchers and a tenants' advocate asked for a unit-based cap.
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At the time, Hickey said the province wouldn't have enough time to create unit-based caps before the rent cap took effect.
On Wednesday, he clarified that basing the cap on the unit is not a priority at this time.
'It's largely not on the table, and not something we're considering now, as was consistent with what we had said throughout the winter,' he said.
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It's something Green MLA Megan Mitton wants to see in the future.
'Linking (the rent) to the unit would be a way to again keep rents more affordable,' said Mitton.
However, she's praising the continuation of the cap as it is now.
'I'm hoping that it does remain permanent because I think it's still necessary to preserve what affordable housing we do have left,' she said.
For more on this story, watch the video above.
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