On the Brink: Halifax-area landlords say housing crisis is harming them too
Last week, we brought you a series called ‘On the Brink,’ which profiles people who are struggling with the rising cost of living. In this story, we hear from two landlords who talk about how the housing crisis is impacting them.
Two landlords in the Halifax area are calling for government solutions to the housing crisis, saying they’re not equipped to absorb extra costs as the cost of living rises.
Andrea Belair is the definition of a small landlord. She owns a two-unit property in Dartmouth that she purchased in 2011, and rents a home for herself in Halifax.
“For me, it is more of an investment rather than a business,” she said. “It’s basically just trying to get equity into the house.”
She said it’s important to her to have a good relationship with her tenants and provide them with an affordable place to live.
“I just wanted to be a good landlord,” she said. “I want them to stay there forever.”
Belair hasn’t raised rent on the units since 2018. The tenants each pay $880 per month, though she does plan to raise the rent by five per cent in the new year once the provincial rent cap increases.
She said she’s never made a profit by renting the units out, especially in recent years when the rising cost of insurance and other expenses have begun to pile up.
“I’m not making any money off that property, other than the equity in it,” she said.
“And that’s great, because it’s worth a lot more now than it was when I purchased it, but you don’t see that equity until you sell the house, so it’s not really helping right now.”
With the skyrocketing cost of rent in recent years, Belair recognizes that many tenants are being stretched thin.
While there’s “no easy fix,” Belair said she doesn’t believe rent control is the answer. She
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