Montreal landlords keep 25,000 units vacant rather than lower rents, prompting city to consider vacancy tax
By
Matthew Renfrew
Summary
Despite 25,000 vacant housing units in Montreal, landlords are refusing to lower rents to avoid locking in tenants at lower rates. The Quebec Landlords Association confirms this reluctance, while city officials consider implementing a tax on vacant units to discourage speculation and encourage price reductions.
Source
bskyMontreal landlords keep 25,000 units vacant rather than lower rents, prompting city to consider vacancy taxcultmtl.comKey quotes
· 2 pulledAccording to the Quebec Landlords Association, Montreal landlords are reluctant to reduce their asking price because they don't want to lock in tenants at lower rents.
City officials are currently considering the implementation of a tax on vacant housing units to 'discourage property speculation and to encourage owners to lower prices.'
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