Montreal landlords hold firm on rents despite 25,000 vacant units across the city
Even with a quarter of the city's rental market sitting empty, landlords refuse to lower asking prices, spurring officials to weigh a vacant housing tax.
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Montreal has a vacant housing crisis with no movement toward a solution. Despite 25,000 empty rental units across the city, landlords are refusing to cut asking prices, according to the Quebec Landlords Association. Their reasoning: lower rents now lock them into reduced rates long-term, a risk most aren't willing to take.
City officials are now considering a new tool: a tax on vacant housing units designed to discourage speculation and pressure owners to lower prices. The measure would shift the math for landlords, making vacancy more expensive than dropping rents to fill units.
