The federal and provincial governments are trying to increase low-cost house rental builds. Which is good but takes years to implement. But what can we do right now? How do we increase rental inventory so rents stabilize, and Canadians (and newcomers) can easy find and rent a place to live. Its not as difficult to do as everyone is making out.
Ways to stabilize Canadian rental market, increase inventory and allow people to find a place to rent that they can afford:
1) Federal government to remove rental income for families with a principal residence that want to rent out part of their house/property. In other words, the income is not taxed. This would increase dramatically the rental units available in each city.
2) Federal and provincial governments to provide grants (say $15,000) to assist with converting rental suits (in principal residence) to legal suits.
3) For the small landlord reduce rental income tax. This would increase dramatically the rental units available in each city. And provide grants to convert properties into legal rental units.