Manitoba’s New Democratic Party (NDP) has pledged to strengthen support for renters by raising the tax credit and implementing stricter regulations on rent increases. The current tax credit for renters in the province stands at up to $525 per year. However, if the NDP wins the upcoming election scheduled for October 3rd, they plan to increase the credit back to $700.
The reduction in the tax credit for renters was implemented by the Progressive Conservative (PC) party, who opted to provide property owners with rebates on their education property tax. NDP Leader, Wab Kinew, criticized this decision and highlighted his party’s intent to restore the tax credit for renters.
In addition to the increased tax credit, an NDP government would also introduce measures to limit landlords’ ability to apply for rental increases above the maximum cap. Currently, landlords can seek an increase from the Residential Tenancies Branch if they can demonstrate significant material improvements to the property that warrant higher rents. However, Kinew believes the current system heavily favors landlords and that the scales need to be tipped in favor of renters.
To address this issue, the NDP would propose a law that ensures above-guideline rent increases are directly tied to genuine capital improvements. This would prevent landlords from justifying hefty rent hikes with minor improvements such as a fresh coat of paint. Kinew believes that the average person would expect better justifications for substantial rent increases.
By promising to increase the tax credit for renters and implement stricter regulations on landlords, the Manitoba NDP aims to provide greater support and protection to renters in the province. These proposed measures aim to achieve a fairer balance between landlords and tenants and address concerns about excessive rent increases.