Calgary tenants shocked by heavy rent increases [Globe and Mail, The (Toronto, Canada)]
Cabot Corporation (CBT)
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Source: Globe and Mail, The
In November, Paxton Porter and his fiancée found out the rental rate for the two-bedroom apartment they'd been leasing since 2020, would be going up by 83 per cent. “In Alberta there are no restrictions on how much a landlord can increase rents,” Mr. Porter says. “So it's totally up to them; the only thing they have to do is give you notice.” The increase came after the 1973-build walk-up in Sunnyside, a trendy neighbourhood in Calgary's inner city, changed ownership last summer. The new landlord “essentially hit everybody with rental increase notices,” Mr. Porter says. Because Mr. Porter's partner would be leaving Calgary for school, the rent hike meant he'd be spending more than a third of his income in rent. “I was on my own,” Mr. Porter says. “And I said, ‘Well, I don't need all this space anyway, and the rent is going up an insane amount, so let me just move back to my parents' to save money so I can buy a place.'” Moving back to his parents' home in Calgary's deep south
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