A healthy housing sector that meets the needs of Canada’s diverse population is critical to both the economic and social wellbeing of Canada’s communities. While renters make up one-third of the population, rental housing is too often overlooked as a component of Canada’s housing system. No Vacancy: Trends in Rental Housing in Canada, a report prepared by FCM using their Quality of Life Reporting System takes a look a current trends in rental housing and homeownership in communities across the country. The report provides insight into various initiatives introduced in communities across Canada designed to stimulate investment in purpose-built rental and affordable housing. The report concludes by offering three options for the federal government to adopt that will stimulate investment in the rental housing market:
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The Building Canada Rental Development Direct Lending Program to stimulate investment in new market-priced rental units
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The Rental Housing Protection Tax Credit to preserve and stop the serious erosion— through demolition and conversion to condominiums— of existing lower-rent properties.
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The Eco-energy Rental Housing Tax Credit to improve the quality of the rental stock; reduce high utility costs for tenants; reduce emissions and environmental impact; and increase resale and future rental value to landlords.
FCM Press Release: More Canadians find “no vacancy” when trying to rent, says FCM report
Full Report: No Vacancy: Trends in Rental Housing in Canada
