WHY DO RENTS INCREASE?

Further to our Rent Increase policy.

Our Property Manager [PM] has shared the allowed Rent Increase for this coming year WITH YOU. This is an amount selected by our provincial government’s study of the annual increasing costs of living.

During 1961 to 1965 inflation averaged 1.28%. Since that time the CUMULATIVE inflation is way over 350% for Medium Rental Housing. The costs keep going up!Everyone has an inflation story or worry. The Canadian Consumer Price Index keeps a record as demand for items pushes the price of everything we buy higher [OR LOWER], for example labour costs; with the resulting value of money decreasing! Decreasing purchasing power, at a rate of 4.1% presently! OR another way of saying IT, an inflation rate of 4.1%!

It is all rooted in Supply and Demand. Consumer Demand pushes prices up and Inflation is the result. The present Inflation rate is the highest in 40 YEARS! And that is why there is a rent increase yearly.

There is no human rights view here. A human right is a FIRST social responsibility, and it is up to us working together TO ADDRESS these challenges. Inflation bites at family income spent on food, clothing and energy – power and gas. Not much left over for discretionary spending!!

Who feels this devalued $ the most? It takes more money to buy the same item we bought last year.

-Wage earners

-Retired folks

-Folks on a fixed/pension income

There is very little these three groups can do!

SO keep your personal expenses down [avoid Credit cards]/share costs with others and encourage neighbours to do the same.

LESS DEMAND ON RESOURCES, LOWERS THE COST OF OPERATIONS FOR C. C. C. Self-care is what makes community possible. Care for yourself makes helping others possible!

Your offers to help around the property can help keep costs down and can put $ in your pocket. Enjoy the resulting connections and Community life. Study your Unit’s Monthly Expense Sheet [available from our PM], soon to be updated.

HAPPY New Year Savings!

Barrow and Gerald December 2021.