Updated units: rent-control exemption
Outdated rental units must be renovated in order to remain rentable and competitive, particularly in light of new condos being offered to rent.
Further, renovations only provide a return (on rent) of 2.4%. CORPIQ suggests that unoccupied units that have been fully updated should be exempt from rent setting. CORPIQ is calling for the Regulation respecting the criteria for the fixing of rent to be changed in this respect.