MONTREAL, Dec. 1 /CNW Telbec/ - The Québec Landlords Association (APQ) is recommending that landlords of residential rental buildings in Montréal take their 2011 property tax increase into account before sending out rent increase notices to their tenants. This is because their property tax bill will undergo a sharp increase following the rate increase presented to the Montréal City Council.
« Montréal Mayor, Mr. Gérald Tremblay, conceded that the city's budget for 2011 would not meet with taxpayers' expectations. Word was circulating that we should expect a 5% increase, but instead they will be met with an increase of 4.3% on average.» according to APQ President, Martin Messier.
« Owners of residential rental properties are already obliged to use outdated methods to calculate the rent they will charge, and now they are facing a property tax increase that will be impossible to recoup given the landlord's already very limited room to manoeuvre.» adds Mr. Messier.
« The City knows full well that landlords will have no alternative than to increase rents to absorb this increase, but it's the landlords who will subject of discontent, and who will be seen as the City's tax collector.» mentioned Martin Messier.
As in past years, the APQ will provide access to a rent increase calculation form on its website (www.apq.org) to allow landlords to calculate the rent increase required in their situation. The current 2010 form will be updated to take into account the officially sanctioned rate to be published by the Québec Rental Board in January 2011.
Founded in 1984, the Québec Landlords Association (APQ) is the largest association of its type offering serving residential property landlords throughout Québec.
For further information: For further information:
Kevin Lebeau (514-382-9670 ext. 255)